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Stock Market & Financial Investment News

News Breaks
January 6, 2014
07:10 EDTACHCAcadia Healthcare acquires inpatient psychiatric facilities
Acadia Healthcare announced the acquisition of inpatient psychiatric facilities in Seattle, Washington, and Riverside, California. Effective, December 1, 2013, the company completed the purchase of an acute inpatient psychiatric facility from Highline Medical Center. The facility was purchased for $20M in cash. Acadia is adding 22 inpatient psychiatric beds in a unit that had not been in use and will transition an additional 50 beds to inpatient psychiatric beds from other uses upon the expiration of third-party provider leases at the end of 2014. Acadia also purchased the Riverside Center for Behavioral Medicine. Consideration for this purchase was $10.5M in cash. The company said, "We expect to produce adjusted income from continuing operations per diluted share in a range of 28c-29c in the fourth quarter as our strong consolidated operating performance should offset the short-term impact of these facilities on our profitability, and as a result, we affirm our established guidance for 2013 adjusted income from continuing operations in a range of $1.06-$1.07 per diluted share.
News For ACHC From The Last 14 Days
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November 12, 2014
12:11 EDTACHCWells Fargo sees headwinds for hospitals, downgrades HCA, Community Health
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05:32 EDTACHCHospital sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Hospital group to Market Weight from Overweight saying the Supreme Court's decision to hear the King v. Burwell case as well as the government's reduced expectations for exchange enrollment in 2015 are likely to remain an overhang on the sector through at least the end of June. Along with the group cut, Wells downgraded shares of HCA Holdings (HCA) and Community Health (CYH) to Market Perform from Outperform. The firm keeps Market Perform ratings on Acadia (ACHC), LifePoint Hospitals (LPNT), Tenet (THC) and Universal Health (UHS).

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