Debbie art

Debbie Osteen

Franklin-based Acadia Healthcare announced Monday it has acquired CenterPointe Behavioral Health System, one of Missouri’s largest behavioral health care providers.

Though the purchase price was not disclosed in a release, Acadia funded the acquisition through a combination of cash and borrowings via its revolving credit facility.

CenterPointe’s assets consist of four inpatient hospitals with a collective 260 acute care beds and 46 specialty beds for substance use and 10 outpatient locations. CenterPointe operates behavioral health networks through regional hubs in St. Louis, Kansas City and Columbia.

The transaction comes as Acadia announced in December three joint ventures, which yields 16 such partnerships for the behavioral health giant (read here).

"The acquisition of CenterPointe provides a unique opportunity for Acadia to extend our footprint in high growth markets,” Debbie Osteen, Acadia’s soon-to-retire chief executive officer, said in the release. “This transaction aligns with our growth strategy to expand our operations through select acquisitions that meet the criteria of our disciplined capital allocation framework. As a certificate-of-need state, Missouri is an attractive market for an acquisition transaction.”

Acadia operates a network of 230 behavioral health care facilities with approximately 10,200 beds in 40 states and Puerto Rico. With more than 20,000 employees serving approximately 70,000 patients daily, Acadia bills itself as among the largest standalone behavioral health companies based in the United States.

Shares of the company (Ticker: ACHC) ended Monday trading at $60.28, down 0.69 percent.