Acadia Healthcare Company, Inc. ( ACHC Quick Quote ACHC - Free Report) recently entered into a joint venture (“JV”) with Minnesota-based nonprofit health system Fairview Health Services. The JV aims to conceive and build a new inpatient mental health and addiction facility in the Twin Cities region.
Equipped to house 144 inpatient mental health beds, the new facility aims to integrate the resources and expertise of both healthcare providers. Through the latest advancements, the project strives to offer a soothing and therapeutic environment resulting in better health outcomes for patients grappling with serious mental health issues and substance use disorders.
Through the recently formed JV, Acadia Healthcare intends to provide enhanced behavioral health services across Twin Cities’ East Metro and neighboring communities. With the region witnessing rising unaddressed demand for upgraded and seamless access to mental health services, ACHC seems well-poised to capitalize on the prevailing scenario on the back of its credible behavioral healthcare services portfolio.
The recent initiative is expected to bolster Acadia Healthcare’s presence in Minnesota. Fairview seems to be the apt partner for complementing ACHC‘s endeavor as it is one of the leading mental health and addiction care providers of the state. Acadia Healthcare continues to undertake investments for enhancing the mental healthcare system of Minnesota and the latest JV with Fairview will take ACHC’s investments to over $50 million in the region.
Efforts similar to the latest one are time opportune as well since Americans have been grappling with rising mental health issues for quite some time. The COVID-19 pandemic has only aggravated the scenario further, thereby necessitating the need for accessible and improved behavioral health services.
Acadia Healthcare continues to enter into JV’s though which it works closely with established healthcare organizations. These initiatives have expanded the company’s facilities, diversified treatment network and national foothold. ACHC’s portfolio comprises 230 behavioral healthcare facilities across 40 states and Puerto Rico at the end of September 2020. The behavioral healthcare provider expects to add around 300 beds to existing facilities by 2021-end.
The company has been undertaking a series of similar initiatives recently. It is worth mentioning that the latest tie-up marks the 16th JV nationwide by Acadia Healthcare. This month, ACHC formed a JV with SCL Health for building a 144-bed freestanding behavioral health unit in the Denver area. One month prior to that, Acadia Healthcare teamed up with Scripps Health in a bid to deliver high-quality behavioral health services across Chula Vista and the neighboring communities. Such efforts have enabled ACHC to reach out to underserved communities.
There are several JV projects lined up in Acadia Healthcare’s pipeline and the year 2022 is likely to be the strongest year with respect to JVs for ACHC.
Apart from Acadia Healthcare, healthcare providers like
HCA Healthcare, Inc. ( HCA Quick Quote HCA - Free Report) , Universal Health Services, Inc. ( UHS Quick Quote UHS - Free Report) and Magellan Health, Inc. offer high-quality behavioral healthcare services and can capitalize on robust demand for these services.
HCA Healthcare operates as one of the leading U.S. acute care psychiatric providers. Behavioral health services remain one of the fastest-growing business lines within the company. HCA continues to collaborate with hospital affiliates for better management of behavioral health services.
Making use of clinical resources and geographic presence, Universal Health Services enters into mutually beneficial collaborations with other healthcare systems. This has helped UHS to deliver enhanced and affordable behavioral healthcare services, thus resulting in better outcomes for patients.
Magellan Health follows an integrated approach of catering to the behavioral, physical and pharmacy needs of people. MGLN has been either launching clinical solutions and programs or else partnering with well-established healthcare providers such as Invo Healthcare, Livongo Health and Neuromotion to drive its endeavors.
Shares of Acadia Healthcare have gained 14.9% in a year compared with the
industry’s rally of 38.3%. ACHC currently carries a Zacks Rank #3 (Hold). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Image Source: Zacks Investment Research
While shares of HCA Healthcare and Magellan Health have gained 54.5% and 18.5%, respectively, in a year, Universal Health Services stock has lost 6.6% in the same time frame.