Acadia Healthcare Tidies Up Its UK Portfolio

With three announced acquisitions on the books in 2016, Acadia Healthcare Company (NASDAQ: ACHC) was forced to sell some of its portfolio, for a change. The Franklin, Tennessee-based behavioral health company has been quite active over in the United Kingdom since 2014, when it acquired Partnerships in Care (PiC) for $662 million.   At the time, PiC was the second largest independent provider of behavioral healthcare services in the United Kingdom, operating 23 inpatient psychiatric facilities with more than 1,200 beds. The sale worked out to 2.3x price-to-revenue and 8.8x price-to-EBITDA. In 2015, Acadia added Care UK, Choice Lifestyles and The Manor Clinic. Care UK operates 15 inpatient... Read More »

Universal Health Ups its UK Holdings

The United Kingdom is still luring behavioral health buyers from the United States. Last week Universal Health Services (NYSE: UHS) picked up Alpha Hospitals Holdings Ltd., a privately held company, for an undisclosed price. Alpha operates four behavioral health hospitals with a combined total of 305 beds. It will be added to Universal’s London-based Cygnet Health Care group, which was acquired in September 2014 for $335 million. Cygnet came with 17 facilities, including 15 inpatient behavioral health hospitals (743 beds, total) and two nursing homes. Astute readers will recall that U.S. rival Acadia Healthcare Company (NASDAQ: ACHC) picked up The Manor Clinic, a 15-bed residential rehab... Read More »