Acadia Healthcare is seeking to acquire Highland Hospital Association (HHA, Inc.) in the West Virginia area and has signed a letter of intent. Terms of the transaction were not disclosed, but it is expected to close by the end of the year.
According to Modern Healthcare, Highland has been working to pay off $28 million debt it took on in 2011 related to a construction project. Three companies in the Highland portfolio that will be included in the Acadia deal include:
- Highland Hospital Association – A psychiatric hospital with 80 acute-care beds for adults, children and adolescents and a 24-bed psychiatric residential treatment facility for children and adolescents.
- Highland Health Center, Inc. – A 16-bed residential treatment and detoxification program.
- Process Strategies – An outpatient provider with integrated behavioral healthcare, primary care, and pharmacy services.
The HHA board voted unanimously in favor of the Acadia deal, noting the capital and clinical support the deal could offer. During the second quarter of 2016, Acadia completed three acquisitions with approximately 240 aggregate beds. The company already operates several existing facilities in West Virginia.