Franklin-based behavioral health giant Acadia Healthcare has announced a joint venture with Tufts Medicine of Massachusetts.
Together investing more than $65 million, the two entities look to build a new 144-bed behavioral health hospital on the site of the former Malden Hospital in Malden, Massachusetts. This future hospital represents the 17th joint venture partnership for Acadia.
The proposed hospital will offer both inpatient and outpatient programs and serve as a teaching hospital for students of the Tufts University School of Medicine.
“As we have proven in operating our joint ventures, we will bring the best practices of both organizations and expand access to quality behavioral health care services providing healing and hope to those in need in the surrounding communities,” Chris Hunter, CEO of Acadia Healthcare, said in a release. “We will continue to partner with leading health systems to combat the mental healthcare and substance use crises across our country.”
Acadia operates a network of 238 behavioral health care facilities with approximately 10,600 beds in 40 states and Puerto Rico. Tufts Medicine is comprised of four hospitals, as well as a home care network and physician network.