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Press Release

Acadia Healthcare Reports 28.3% Growth in Fourth Quarter Adjusted EPS to $0.59 on Revenue of $495.3 Million

Full Year 2015 Adjusted EPS Increases 44.8% to $2.23

Completes the Acquisition of Priory Group

Establishes Guidance for 2016 Adjusted Earnings per Diluted Share in Range of $2.81 to $2.86

FRANKLIN, Tenn.--(BUSINESS WIRE)--Feb. 16, 2016-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2015. Revenue increased 68.0% for the quarter to $495.3 million from $294.9 million for the fourth quarter of 2014. Income from continuing operations attributable to Acadia stockholders was $41.5 million, or $0.58 per diluted share, for the fourth quarter of 2015 compared with $22.3 million, or $0.37 per diluted share, for the fourth quarter of 2014. Adjusted income from continuing operations attributable to Acadia stockholders increased 55.8% to $42.3 million for the fourth quarter of 2015 from $27.2 million for the fourth quarter of 2014, and adjusted income from continuing operations per diluted share attributable to Acadia stockholders increased 28.3% to $0.59 from $0.46. Weighted average diluted shares outstanding increased 19.5% for the fourth quarter of 2015 from the fourth quarter of 2014, primarily due to the issuance of common stock in February and May 2015, the net proceeds of which have primarily been used to fund acquisitions. A reconciliation of all non-GAAP financial results in this release appears on pages 8 and 9.

For 2015, revenue was $1.8 billion, an increase of 78.6% from $1.0 billion for 2014. Income from continuing operations attributable to Acadia stockholders for 2015 was $119.4 million, or $1.75 per diluted share, compared with $83.2 million, or $1.50 per diluted share, for 2014. Adjusted income from continuing operations attributable to Acadia stockholders increased 79.7% to $152.8 million for 2015 from $85.0 million for 2014, while adjusted income from continuing operations per diluted share attributable to Acadia stockholders increased 44.8% to $2.23 from $1.54. Weighted average shares outstanding increased 23.6% for 2015 compared with 2014.

“Acadia produced strong financial and operating results for the fourth quarter of 2015, completing another fiscal year of substantial profitable growth,” said Joey Jacobs, Chairman and Chief Executive Officer of Acadia. “Our performance was driven by outstanding execution of our organic growth and acquisition strategies in both the United States and the United Kingdom.

“We have already taken a major step toward continuing our strong performance in 2016 by completing the acquisition of the Priory Group. Priory brings approximately 7,100 behavioral healthcare beds in 327 facilities to Acadia and generated revenue of approximately $865 million and adjusted EBITDA of approximately $196 million for the twelve months ended September 30, 2015. We welcome the high quality Priory team of more than 13,000 people to Acadia, and we are confident of our prospects for producing further growth as the U.K.’s leading independent provider of behavioral healthcare.”

Brent Turner, President of Acadia, added, “We used a combination of equity and long-term debt financing to complete the Priory transaction. The cash sources included net proceeds of $685 million from our January public equity offering of 11.5 million shares, $390 million from our offering of 6.5% senior unsecured notes due 2024 and $955 million from a new senior secured term loan B at an interest rate of LIBOR plus 3.75%. Priory’s shareholders also received 4,033,561 shares of Acadia’s common stock. In addition, we used borrowings from our amended senior secured term loan A, which was increased by $135 million at an interest rate of LIBOR plus 3.25%, to pay down the majority of our $300 million revolving credit facility.”

During the fourth quarter of 2015, Acadia completed five acquisitions that included five inpatient facilities with approximately 200 beds in total and 19 comprehensive treatment centers (CTCs). For full-year 2015, the Company completed 17 acquisitions, bringing 69 inpatient facilities with approximately 3,450 beds and 107 CTCs to the Company.

In addition to adding inpatient beds through acquisition, an important element of Acadia’s organic growth strategy is to meet increasing market demand by adding beds to existing and de novo facilities. Consistent with the Company’s guidance, Acadia added a total of approximately 670 beds for 2015, 149 of which were added in the fourth quarter.

New beds added in 2015, as well as Acadia’s continuing initiatives to build revenue at each facility, drove a 8.0% increase in consolidated same facility revenue for the fourth quarter of the year, comprised of a 7.8% increase in patient days and a 0.1% increase in revenue per patient day. Consolidated same facility EBITDA margin for the fourth quarter of 2015 was 25.5% compared with 25.7% for the fourth quarter of 2014. Acadia’s consolidated adjusted EBITDA for the fourth quarter increased 68.4% to $111.8 million, or 22.6% of revenue, compared with $66.4 million, or 22.5% of revenue, for the fourth quarter of 2014.

Mr. Jacobs concluded, “We believe Acadia is well positioned financially to continue executing its acquisition and organic growth strategies in 2016. Subsequent to the completion of the Priory acquisition, we continue to have significant availability under our $300 million revolving credit facility. We also expect to continue generating substantial operating cash flow, which for 2015, totaled $242.1 million. Including the impact of the Priory transaction, the Company’s leverage ratio is currently 5.4.”

Acadia today established its guidance for 2016 adjusted earnings per diluted share in a range of $2.81 to $2.86, an increase of approximately 26% to 28% over 2015. For the first quarter of 2016, the Company expects adjusted earnings per diluted share in a range of $0.53 to $0.54, an increase of approximately 23% to 26% over 2015, reflecting the impact of the Company’s equity offering in early January and the shares of common stock issued to the Priory shareholders, offset by only a partial quarter of the Priory transaction. The Company’s guidance assumes an exchange rate of $1.45 per British Pound Sterling, non-cash stock compensation expense of approximately $26 million and a tax rate of 23%. The Company’s guidance does not include the impact of any future acquisitions or transaction-related expenses.

Acadia will hold a conference call to discuss its fourth quarter financial results at 9:00 a.m. Eastern Time on Wednesday, February 17, 2016. A live webcast of the conference call will be available at www.acadiahealthcare.com in the “Investors” section of the website. The webcast of the conference call will be available through March 3, 2016.

Risk Factors

This news release contains forward-looking statements. Generally words such as “may,” “will,” “should,” “could,” “anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue,” and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this news release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties and our future results could differ significantly from those expressed or implied by our forward-looking statements. Factors that may cause actual results to differ materially include, without limitation, (i) Acadia’s ability to complete acquisitions and successfully integrate the operations of acquired facilities, including Priory facilities; (ii) Acadia’s ability to add beds, expand services, enhance marketing programs and improve efficiencies at its facilities; (iii) potential reductions in payments received by Acadia from government and third-party payors; (iv) the occurrence of patient incidents, which could adversely affect the price of our common stock and result in incremental regulatory burdens and governmental investigations; (v) the risk that Acadia may not generate sufficient cash from operations to service its debt and meet its working capital and capital expenditure requirements; and (vi) potential operating difficulties, client preferences, changes in competition and general economic or industry conditions that may prevent Acadia from realizing the expected benefits of its business strategy. These factors and others are more fully described in Acadia’s periodic reports and other filings with the SEC.

About Acadia

Acadia is a provider of inpatient behavioral healthcare services. Acadia operates a network of 585 behavioral healthcare facilities with approximately 17,100 beds in 39 states, the United Kingdom and Puerto Rico. Acadia provides behavioral health and addiction services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.

 
 
 
 
 
Acadia Healthcare Company, Inc.
Condensed Consolidated Statements of Income
(Unaudited)
 
      Three Months Ended December 31,     Year Ended December 31,
2015     2014 2015     2014
(In thousands, except per share amounts)
 
Revenue before provision for doubtful accounts $ 504,917 $ 301,000 $ 1,829,619 $ 1,030,784
Provision for doubtful accounts   (9,598 )   (6,099 )   (35,127 )   (26,183 )
Revenue 495,319 294,901 1,794,492 1,004,601
 

Salaries, wages and benefits (including equity-based compensation expense of $5,896, $3,083, $20,472 and $10,058, respectively)

266,149 166,732 973,732 575,412
Professional fees 33,248 16,331 116,463 52,482
Supplies 22,233 13,700 80,663 48,422
Rents and leases 9,889 3,329 32,528 12,201
Other operating expenses 57,847 31,466 206,746 110,654
Depreciation and amortization 18,630 10,971 63,550 32,667
Interest expense, net 28,810 14,716 106,742 48,221
Debt extinguishment costs 839 - 10,818 -
Loss (gain) on foreign currency derivatives - - 1,926 (15,262 )
Transaction-related expenses   5,156     2,816     36,571     13,650  
Total expenses   442,801     260,061     1,629,739     878,447  
Income from continuing operations before income taxes 52,518 34,840 164,753 126,154
Provision for income taxes   11,603     12,539     46,397     42,922  
Income from continuing operations 40,915 22,301 118,356 83,232
Income (loss) from discontinuing operations, net of income taxes   28     (172 )   111     (192 )
Net income 40,943 22,129 118,467 83,040
Net loss attributable to noncontrolling interests   614     -     1,078     -  
Net income attributable to Acadia Healthcare Company, Inc. $ 41,557   $ 22,129   $ 119,545   $ 83,040  
 

Basic earnings attributable to Acadia Healthcare Company, Inc. stockholders:

Income from continuing operations $ 0.59 $ 0.38 $ 1.75 $ 1.51
Income (loss) from discontinuing operations   -     -     -     -  
Net income $ 0.59   $ 0.38   $ 1.75   $ 1.51  
 

Diluted earnings attributable to Acadia Healthcare Company, Inc. stockholders:

Income from continuing operations $ 0.58 $ 0.37 $ 1.75 $ 1.50
Income (loss) from discontinuing operations   -     -     -     -  
Net income $ 0.58   $ 0.37   $ 1.75   $ 1.50  
 
Weighted-average shares outstanding:
Basic 70,731 59,197 68,085 55,063
Diluted 71,145 59,529 68,391 55,327
 
 
 
 
 
 
Acadia Healthcare Company, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
         
December 31,
2015 2014
(In thousands)
 
ASSETS
Current assets:
Cash and cash equivalents $ 11,215 $ 94,040

Accounts receivable, net of allowance for doubtful accounts of $29,332 and $22,449, respectively

216,626 118,378
Deferred tax assets - 20,155
Other current assets   66,895     41,570  
Total current assets 294,736 274,143
Property and equipment, net 1,709,053 1,069,700
Goodwill 2,128,215 802,986
Intangible assets, net 59,575 21,636
Deferred tax assets - noncurrent 56,105 13,141
Other assets   38,515     25,349  
Total assets $ 4,286,199   $ 2,206,955  
 
 
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt $ 45,360 $ 26,965
Accounts payable 91,341 48,696
Accrued salaries and benefits 80,696 59,317
Other accrued liabilities   72,806     30,956  
Total current liabilities 290,203 165,934
Long-term debt 2,195,384 1,052,670
Deferred tax liabilities - noncurrent 23,936 63,880
Other liabilities   78,602     43,506  
Total liabilities 2,588,125 1,325,990
Redeemable noncontrolling interests 8,055 -
Equity:
Common stock 707 592
Additional paid-in capital 1,572,972 847,301
Accumulated other comprehensive loss (104,647 ) (68,370 )
Retained earnings   220,987     101,442  
Total equity   1,690,019     880,965  
Total liabilities and equity $ 4,286,199   $ 2,206,955  
 
 
 
 
 
 
Acadia Healthcare Company, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
         
Year Ended December 31,
2015 2014
(In thousands)
 
Operating activities:
Net income $ 118,467 $ 83,040

Adjustments to reconcile net income to net cash provided by continuing operating activities:

Depreciation and amortization 63,550 32,667
Amortization of debt issuance costs 6,709 3,198
Equity-based compensation expense 20,472 10,058
Deferred income tax expense 36,622 7,215
(Income) loss from discontinued operations, net of taxes (111 ) 192
Debt extinguishment costs 10,818 -
Loss (gain) on foreign currency derivatives 1,926 (15,262 )
Other 1,615 488
Change in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable, net (24,954 ) (15,110 )
Other current assets (2,717 ) (2,011 )
Other assets (8,021 ) (6,513 )
Accounts payable and other accrued liabilities 6,868 2,793
Accrued salaries and benefits 1,658 11,980
Other liabilities   9,236     2,749  
Net cash provided by continuing operating activities 242,138 115,484
Net cash used in discontinued operating activities   (1,735 )   (198 )
Net cash provided by operating activities 240,403 115,286
 
Investing activities:
Cash paid for acquisitions, net of cash acquired (574,777 ) (738,702 )
Cash paid for capital expenditures (276,047 ) (113,244 )
Cash paid for real estate acquisitions (26,622 ) (23,177 )
Settlement of foreign currency derivatives (1,926 ) 15,262
Other   (5,099 )   (913 )
Net cash used in investing activities (884,471 ) (860,774 )
 
Financing activities:
Borrowings on long-term debt 1,150,000 542,500
Borrowings on revolving credit facility 468,000 230,500
Principal payments on revolving credit facility (310,000 ) (284,000 )
Principal payments on long-term debt (31,965 ) (7,695 )
Repayment of assumed CRC debt (904,467 ) -
Repayment of senior notes (97,500 ) -
Payment of debt issuance costs (26,421 ) (12,993 )
Payment of premium on senior notes (7,480 ) -
Issuance of common stock, net 331,308 374,431
Common stock withheld for minimum statutory taxes, net (7,762 ) (4,099 )
Excess tax benefit from equity awards 309 4,617
Cash paid for contingent consideration - (5,000 )
Other   (420 )   (289 )
Net cash provided by financing activities   563,602     837,972  
   
Effect of exchange rate changes on cash   (2,359 )   (3,013 )
 
Net (decrease) increase in cash and cash equivalents (82,825 ) 89,471
Cash and cash equivalents at beginning of the period   94,040     4,569  
Cash and cash equivalents at end of the period $ 11,215   $ 94,040  

 

Effect of acquisitions:
Assets acquired, excluding cash $ 1,988,634 $ 819,518
Liabilities assumed (1,024,515 ) (78,849 )
Issuance of common stock in connection with acquisition (380,210 ) -
Redeemable noncontrolling interest resulting from an acquisition (9,132 ) -
Contingent consideration issued in connection with acquisition - (1,467 )
Prior year deposits paid for acquisitions   -     (500 )
Cash paid for acquisitions, net of cash acquired $ 574,777   $ 738,702  
 
 
 
 
 
 
Acadia Healthcare Company, Inc.
Operating Statistics
(Unaudited, Revenue in thousands)
 
      Three Months Ended December 31,   Year Ended December 31,
2015   2014   % Change 2015   2014   % Change
Same Facility Results (a,c)
Revenue $ 310,621 $ 287,737 8.0 % $ 1,058,998 $ 980,464 8.0 %
Patient Days 452,892 420,113 7.8 % 1,556,908 1,442,058 8.0 %
Admissions 21,561 19,202 12.3 % 86,140 74,846 15.1 %
Average Length of Stay (b) 21.0 21.9 -4.0 % 18.1 19.3 -6.2 %
Revenue per Patient Day $ 686 $ 685 0.1 % $ 680 $ 680 0.0 %
EBITDA margin 25.5 % 25.7 % -20 bps 25.5 % 25.0 % 50 bps
 
U.S. Same Facility Results (a)
Revenue $ 232,023 $ 215,774 7.5 % $ 903,898 $ 837,962 7.9 %
Patient Days 339,170 318,211 6.6 % 1,334,416 1,242,283 7.4 %
Admissions 21,298 18,931 12.5 % 85,548 74,256 15.2 %
Average Length of Stay (b) 15.9 16.8 -5.3 % 15.6 16.7 -6.8 %
Revenue per Patient Day $ 684 $ 678 0.9 % $ 677 $ 675 0.4 %
EBITDA margin 25.1 % 25.6 % -50 bps 25.3 % 24.8 % 50 bps
 
U.K. Same Facility Results (c)
Revenue $ 78,598 $ 71,963 9.2 % $ 155,100 $ 142,502 8.8 %
Patient Days 113,722 101,902 11.6 % 222,492 199,775 11.4 %
Admissions 263 271 -3.0 % 592 590 0.3 %
Average Length of Stay (b) 432.4 376.0 15.0 % 375.8 338.6 11.0 %
Revenue per Patient Day $ 691 $ 706 -2.1 % $ 697 $ 713 -2.3 %
EBITDA margin 26.7 % 26.1 % 60 bps 26.4 % 26.4 % 0 bps
 
 
U.S. Facility Results
Revenue $ 388,955 $ 219,800 77.0 % $ 1,426,205 $ 850,625 67.7 %
Patient Days 541,157 323,199 67.4 % 2,025,338 1,262,445 60.4 %
Admissions 31,382 19,368 62.0 % 119,048 76,143 56.3 %
Average Length of Stay (b) 17.2 16.7 3.3 % 17.0 16.6 2.6 %
Revenue per Patient Day $ 719 $ 680 5.7 % $ 704 $ 674 4.5 %
EBITDA margin 25.0 % 25.2 % -20 bps 26.5 % 24.6 % 190 bps
 
U.K. Facility Results (c)
Revenue $ 104,581 $ 71,963 45.3 % $ 360,698 $ 142,502 153.1 %
Patient Days 160,039 101,902 57.1 % 537,257 199,775 168.9 %
Admissions 341 271 25.8 % 1,387 590 135.1 %
Average Length of Stay (b) 469.3 376.0 24.8 % 387.4 338.6 14.4 %
Revenue per Patient Day $ 653 $ 706 -7.5 % $ 671 $ 713 -5.9 %
EBITDA margin 26.6 % 26.1 % 50 bps 25.0 % 26.4 % -140 bps
 
Total Facility Results (c)
Revenue $ 493,536 $ 291,763 69.2 % $ 1,786,903 $ 993,127 79.9 %
Patient Days 701,196 425,101 64.9 % 2,562,595 1,462,220 75.3 %
Admissions 31,723 19,639 61.5 % 120,435 76,733 57.0 %
Average Length of Stay (b) 22.1 21.6 2.1 % 21.3 19.1 11.7 %
Revenue per Patient Day $ 704 $ 686 2.6 % $ 697 $ 679 2.7 %
EBITDA margin 25.3 % 25.4 % -10 bps 26.2 % 24.9 % 130 bps
 
(a) Same-facility results for the three and twelve months ended December 31, 2015 and 2014 exclude one facility that is converting its residential treatment beds to acute psychiatric treatment beds and seven outpatient programs that have been closed.
(b) Average length of stay is defined as patient days divided by admissions.
(c) Revenue and revenue per patient day for the three and twelve months ended December 31, 2014 are adjusted to reflect the foreign currency exchange rate for the comparable periods of 2015 in order to eliminate the effect of changes in the exchange rate. The exchange rates used in the adjusted revenue and revenue per patient day amounts for the three and twelve months ended December 31, 2014 are 1.52 and 1.53, respectively.
 
 
 
 
 
 
Acadia Healthcare Company, Inc.
Reconciliation of Net Income Attributable to Acadia Healthcare Company, Inc. to Adjusted EBITDA
(Unaudited)
                 

Three Months Ended

December 31,

Year Ended

December 31,

2015 2014 2015 2014
(in thousands)
 
Net income attributable to Acadia Healthcare Company, Inc. $ 41,557 $ 22,129 $ 119,545 $ 83,040
(Income) loss from discontinuing operations, net of income taxes (28 ) 172 (111 ) 192
Net loss attributable to noncontrolling interests (614 ) - (1,078 ) -
Provision for income taxes 11,603 12,539 46,397 42,922
Interest expense, net 28,810 14,716 106,742 48,221
Depreciation and amortization   18,630     10,971   63,550     32,667  
EBITDA 99,958 60,527 335,045 207,042
 
Adjustments:
Equity-based compensation expense (a) 5,896 3,083 20,472 10,058
Debt extinguishment costs (b) 839 - 10,818 -
Loss (gain) on foreign currency derivatives (c) - - 1,926 (15,262 )
Transaction-related expenses (d)   5,156     2,816   36,571     13,650  
Adjusted EBITDA $ 111,849   $ 66,426 $ 404,832   $ 215,488  
 
See footnotes on page 10.
 
 
 
 
 
Acadia Healthcare Company, Inc.
Reconciliation of Adjusted Income from Continuing Operations Attributable to Acadia Healthcare Company, Inc. to
Net Income Attributable to Acadia Healthcare Company, Inc.
(Unaudited)
                 

Three Months Ended

December 31,

Year Ended

December 31,

2015 2014 2015 2014
(in thousands, except per share amounts)
 
Net income attributable to Acadia Healthcare Company, Inc. $ 41,557 $ 22,129 $ 119,545 $ 83,040
(Income) loss from discontinuing operations, net of income taxes (28 ) 172 (111 ) 192
Provision for income taxes   11,603     12,539     46,397     42,922  

Income from continuing operations attributable to Acadia Healthcare Company, Inc. before income taxes

53,132 34,840 165,831 126,154
 
Adjustments to income from continuing operations:
Debt extinguishment costs (b) 839 - 10,818 -
Loss (gain) on foreign currency derivatives (c) - - 1,926 (15,262 )
Transaction-related expenses (d) 5,156 2,816 36,571 13,650

Income tax provision reflecting tax effect of adjustments to income from continuing operations (e)

  (16,834 )   (10,506 )   (62,392 )   (39,522 )

Adjusted income from continuing operations attributable to Acadia Healthcare Company, Inc.

$ 42,293 $ 27,150 $ 152,754 $ 85,020
 
Weighted-average shares outstanding - diluted 71,145 59,529 68,391 55,327
 

Adjusted income from continuing operations attributable to Acadia Healthcare Company, Inc. per diluted share

$ 0.59   $ 0.46   $ 2.23   $ 1.54  
 
See footnotes on page 10.
 
 
 
 
 
 
Acadia Healthcare Company, Inc.
Footnotes
   
We have included certain financial measures in this press release, including EBITDA, Adjusted EBITDA and Adjusted income from continuing operations, which are “non-GAAP financial measures” as defined under the rules and regulations promulgated by the SEC. We define EBITDA as net income adjusted for loss from discontinued operations, net interest expense, income tax provision and depreciation and amortization. We define Adjusted EBITDA as EBITDA adjusted for equity-based compensation expense, debt extinguishment costs, gain on foreign currency derivatives and transaction-related expenses.
 
EBITDA, Adjusted EBITDA and Adjusted income from continuing operations are supplemental measures of our performance and are not required by, or presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). EBITDA, Adjusted EBITDA and Adjusted income from continuing operations are not measures of our financial performance under GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with GAAP or as an alternative to cash flow from operating activities as measures of our liquidity. Our measurements of EBITDA, Adjusted EBITDA and Adjusted income from continuing operations may not be comparable to similarly titled measures of other companies. We have included information concerning EBITDA, Adjusted EBITDA and Adjusted income from continuing operations in this press release because we believe that such information is used by certain investors as measures of a company’s historical performance. We believe these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of issuers of equity securities, many of which present EBITDA, Adjusted EBITDA and Adjusted income from continuing operations when reporting their results. Our presentation of EBITDA, Adjusted EBITDA and Adjusted income from continuing operations should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items.
 
(a) Represents the equity-based compensation expense of Acadia.
 
(b) Represents debt extinguishment costs related to the repayment of $97.5 million of the Company's 12.875% Senior Notes due 2018, including a prepayment premium of $7.5 million and the write-off of $3.3 million of deferred financing costs.
 
(c) Represents the change in fair value of foreign currency derivatives purchased by Acadia related to acquisitions in the U.K. during 2015 and in July 2014.
 
(d) Represents transaction-related expenses incurred by Acadia related to acquisitions.
 
(e) Represents the income tax provision adjusted to reflect the tax effect of the adjustments to income from continuing operations based on tax rates of 28.5% and 27.9% for the three months ended December 31, 2015 and 2014, respectively, and 29.0% and 31.7% for the year ended December 31, 2015 and 2014, respectively.
 
 
 
 

Source: Acadia Healthcare Company, Inc.

Acadia Healthcare Company, Inc.
Brent Turner, President, 615-861-6000