Yahoo Finance Acadia (ACHC) JV Breaks Ground for New Behavioral Health Unit
Acadia Healthcare Company, Inc. ACHC recently announced that the company has broken ground for a new behavioral health treatment and teaching facility in West Bloomfield, MI. The hospital is a joint venture (JV) between ACHC and an academic and integrated health system, Henry Ford Health. It was first announced in 2020.
The new facility, which is also expected to be an academic hub, will have two stories and will be around 120,000 square feet. It will be on the West Bloomfield campus of Henry Ford Health, acting as an extension to the existing services. It will start with 184 inpatient beds and later expand to 192 beds. ACHC expects to add even more beds based on requirements.
The hospital, named Henry Ford Behavioral Health Hospital, will be operated by Acadia Healthcare. It is expected to provide inpatient psychiatric services to children, adolescents, adults and seniors. The JV is expected to develop innovative care delivery solutions for creating a better combination of physical and mental health services.
The facility, acting as an academic site, is expected to prepare future behavioral healthcare providers. This is a prudent move, given the growing demand for behavioral health services. Per the Centers for Disease Control and Prevention, more than 50% of the population will be diagnosed with a mental disorder or illness, at some point in their lifetime. The COVID-19 pandemic aggravated the situation and the incidence of depression and anxiety have surged.
The latest move is in line with Acadia Healthcare’s strategy of actively pursuing JVs with renowned healthcare systems, which is helping the company to expand its capabilities through bed additions. The healthcare provider has a robust pipeline of JV projects, which are yet to be completed. The year 2022 is likely to be its strongest year regarding JVs.
In June 2022, Acadia Healthcare inked a JV with Tufts Medicine to construct a new 144-bed behavioral health hospital. The company also inked a JV with ECU Health, the premier health system of eastern North Carolina this July, for constructing a behavioral health hospital comprising 144 beds in Greenville, NC. The company plans to add a total of roughly 600 beds in 2022, among which, around 300 will be included in its existing facilities.
Price Performance
Acadia Healthcare’s shares have jumped 24.6% in the past year against the 29.3% fall of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Acadia Healthcare currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the medical space are Alignment Healthcare, Inc. ALHC, Brookdale Senior Living Inc. BKD and The Ensign Group, Inc. ENSG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Alignment Healthcare’s 2022 bottom line indicates a 29% year-over-year increase. ALHC’s earnings beat estimates in three of the last four quarters and missed once, the average surprise being 7.9%.
The consensus mark for Brookdale Senior Living’s 2022 earnings per share signals a 22.6% year-over-year improvement. It has witnessed three upward estimate revisions in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for Ensign Group’s 2022 bottom line indicates a 13.5% year-over-year increase. ENSG’s earnings beat estimates in three of the last four quarters and met once, the average surprise being 1.3%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Brookdale Senior Living Inc. (BKD) : Free Stock Analysis Report
Acadia Healthcare Company, Inc. (ACHC) : Free Stock Analysis Report
The Ensign Group, Inc. (ENSG) : Free Stock Analysis Report
Alignment Healthcare, Inc. (ALHC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
