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Acadia Healthcare Enters Into a Joint Venture Partnership With Ascension Seton to Expand Behavioral Health Services in Austin, Texas
FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has formed a joint venture partnership with
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":" FRANKLIN, Tenn.--(BUSINESS WIRE)--\nAcadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it has formed a joint venture partnership with Ascension Seton, one of the leading, integrated healthcare systems in Austin, Texas, and a part of the Ascension national health network. The partnership will expand access to behavioral healthcare in Austin and surrounding communities.\n\n\nThe joint venture will focus on expanding Acadia’s current operations at Cross Creek Hospital, as well as the number of inpatient behavioral beds available in Austin. Acadia will construct a 106-bed expansion of the acute behavioral hospital, increasing the total licensed bed count to 196 upon completion. Slated to open in late 2024, the new hospital will be named “Cross Creek Hospital together with Ascension Seton.”\n\n\nThe joint venture hospital will be in close proximity to Ascension Seton hospitals and will be one of the training sites for students, residents and fellows from Dell Medical School at The University of Texas at Austin.\n\n\nThis is Acadia’s second joint venture partnership with Ascension, having developed and opened Ascension Saint Thomas Behavioral Health Hospital in Nashville, Tennessee, in 2020. Ascension Seton selected Acadia as their joint venture partner in Austin because of Acadia’s shared commitment to high-quality, compassionate, mission-driven care to improve the health of the individuals and communities they serve. Ascension Seton’s decision was further solidified by Acadia’s proven track record in joint venture partnerships and the existing relationship with the health system.\n\n\n“We are proud to expand our strong working relationship with Ascension,” said Chris Hunter, chief executive officer of Acadia Healthcare. “Through this joint venture, our organizations will partner in the delivery of high-quality behavioral healthcare to promote health and healing in the Austin community. With this announcement, Acadia now has 21 joint venture partnerships with premier health systems. We will continue this successful strategy to expand access to behavioral healthcare across the United States.\n\n\n“This hospital will be a tremendous resource for those living in our community, including those who are most vulnerable, and we’re thrilled to bring together the expertise and capabilities from our two great organizations,” ...