Acadia Healthcare Enhances FY14 EPS Outlook On Acquisition of Partnerships In Care For $662 Mln

Acadia Healthcare, ACHC, Health Care
Acadia Healthcare, ACHC, Health Care

Acadia Healthcare (ACHC), a provider of inpatient behavioral healthcare services, said Wednesday it is raising its guidance for 2014 following the completion of its previously announced acquisition of Partnerships in Care for $662 million in cash.

Partnerships in Care is the second largest independent provider of inpatient behavioral healthcare services in the United Kingdom, operating 23 inpatient psychiatric facilities with over 1,200 beds. For 2013, Partnerships in Care produced revenue of $285 million and adjusted EBITDA of approximately $75 million.

ACHC expects that the transaction will be accretive to its 2014 earnings in a range of $0.17 to $0.18 per diluted share, before transaction-related expenses.

Based on the impact of the Partnerships in Care acquisition, ACHC raised its guidance for 2014 adjusted earnings per diluted share to a range of $1.44 – $1.46. The company’s guidance does not include the impact of any future acquisitions or transaction-related expenses.

Analysts polled by Capital IQ are expecting EPS of $1.38, if comparable.

Shares closed at $46.05 with a 52-week range of $30.70 – $53.87.


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