New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 2, 2014
07:05 EDTACHCAcadia Healthcare completes PiC acquisition for $662M
Acadia Healthcare announced that it completed the previously announced acquisition of Partnerships in Care for approximately $662M in cash. For 2013, PiC produced revenue of approximately $285M and adjusted EBITDA of approximately $75M. Acadia expects that the transaction will be accretive to its FY14 earnings in a range of 17c-18c per diluted share, before transaction-related expenses. The purchase was financed through a combination of equity and long-term debt. On June 17, Acadia closed an underwritten public offering of its common stock, which provided net proceeds to the company of approximately $374M. On July 1, Acadia closed a private offering of $300M in aggregate principal amount of its 5.125% senior unsecured notes due 2022 pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended. Based primarily on the impact of the PiC acquisition, Acadia raised its guidance for FY14 adjusted EPS 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. FY14 EPS consensus $1.36.
News For ACHC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 27, 2015
12:36 EDTACHCOn The Fly: Top stock stories at midday
Subscribe for More Information
10:55 EDTACHCProposed Medicaid rule positive for mental health providers, says Wells Fargo
After CMS released its proposed Medicaid Managed Care rule yesterday, Wells Fargo says the rule would allow for-profit behavioral hospitals to be reimbursed for providing services to adult Medicaid beneficiaries enrolled in a Medicaid Managed Care program. Acadia Healthcare (ACHC) and Universal Health Services (UHS) both own such hospitals, according to Wells. However, the firm adds that the rule would not change the regulations for fee for service adult Medicaid beneficiaries, who it thinks are likely the heaviest users of behavioral care, But Wells thinks that the proposal announced yesterday paves the way for behavioral hospitals to eventually be reimbursed for providing behavioral services to fee for service beneficiaries. The firm keeps an Outperform on Acadia and a Market Perform rating on Universal Health.
May 21, 2015
07:34 EDTACHCAcadia price target raised to $83 from $75 at Susquehanna
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use