Acadia Healthcare plans to open 14 new comprehensive treatment centers in 2024.
The Franklin, Tenn.-based behavioral healthcare company owns 160 comprehensive treatment centers across the country. The centers are focused on treating opioid use disorder.
On a May 2 call with investors, transcribed by Seeking Alpha, Acadia Healthcare CEO Chris Hunter said only 10% of the 9 million Americans with opioid use disorder is receiving medication-assisted treatment.
"As the opioid epidemic continues to intensify, we will continue to expand this important area of our business, as we see record demand for our CTC services," Mr. Hunter said.
Acadia acquired three opioid treatment centers in North Carolina earlier this year. Smaller opioid treatment clinics, struggling with the effects of Medicaid disenrollment and other headwinds, are interested in becoming part of Acadia, he said.
"I think we are increasingly seen as an acquirer of choice," Mr. Hunter told investors.
The company is also planning to expand its inpatient treatment capacity at existing facilities by 400 beds in 2024, Mr. Hunter said.
Acadia Healthcare reported $768.1 million in revenue in the first quarter of 2024, up 9% from the same time period last year. Its revenue per patient day increased 6.9% year-over-year.