FRANKLIN, Tenn., Sept. 12, 2016 /PRNewswire/ -- Acadia Healthcare (NASDAQ: ACHC) and Ochsner Health System have reached a definitive agreement to create a joint venture 82-bed acute psychiatric hospital, serving the greater New Orleans metropolitan area.
"New Orleans is a radically under-bedded market, with long wait lists for care locally. We intend this facility to be a leading regional resource for inpatient psychiatric care," said Joey Jacobs, Chairman and CEO of Acadia Healthcare.
Under the terms of the agreement, the new facility in LaPlace, LA, will be built in the current location of Ochsner's River Parishes' Emergency Room; The E.R. will move into a new building of its own a short distance away. Acadia will provide the investment to reconstruct the building, and handle day-to-day management of the facility.
Joey Jacobs adds: "The new hospital will benefit tremendously with the Ochsner relationship. Ochsner is one of Louisiana's largest and most trusted hospital systems. This new facility is a perfect complement to our other Acadia facilities in Louisiana. This model follows other recent successful joint venture partnerships in Massachusetts and Memphis."
The new hospital is slated to open in 2018.
About Acadia Healthcare
Acadia is a provider of inpatient behavioral healthcare services. Acadia operates a network of 591 behavioral healthcare facilities with approximately 17,800 beds in 39 states, the United Kingdom and Puerto Rico. Acadia provides behavioral health and addiction services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.
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SOURCE Acadia Healthcare