Benzinga | Dec 9, 2020 09:05AM EST

Acadia Healthcare Forms Joint Venture With Henry Ford Health System To Build Modern Behavioral Health Facility

Acadia Healthcare Company, Inc. (NASDAQ:ACHC) today announced that it has formed a joint venture with Henry Ford Health System, one of Michigan's premier, academic and integrated health systems. Henry Ford selected Acadia Healthcare, the nation's largest stand-alone behavioral healthcare company, as its partner for a new behavioral health hospital to address the growing, unmet need for accessible, high-quality behavioral health services in Detroit and the surrounding counties.

"Acadia is extremely pleased to be partnering with a premier healthcare provider like Henry Ford to provide these critically needed services in the Detroit area," said Debbie Osteen, Chief Executive Officer of Acadia Healthcare. "The new hospital will make a positive difference in the lives of individuals and families throughout the region. This partnership is a strong example of one of our growth strategies to continue to expand our treatment network through strategic joint ventures with many of the country's leading health organizations."

"We chose Acadia because of its commitment to patient- and family-centered care, strong clinical outcomes, and proven track record of collaborating with health systems across the country," said Wright Lassiter, III, President and Chief Executive Officer of Henry Ford Health System. "Henry Ford has been a trusted healthcare provider in the Detroit area for more than 100 years and is committed to meeting the rapidly growing demand for behavioral health services in the communities we serve. Healthcare is one of the most important building blocks of a strong community, and every individual deserves safe, accessible, affordable, compassionate, and high-quality care."

Construction will begin once all regulatory approvals are met. Slated to open in late 2022, the hospital will have 192 beds with the potential to expand to meet future demand for inpatient services in the area. Comprehensive inpatient treatment will be provided for adults, seniors and adolescents who struggle with acute symptoms of mental health disorders. In addition to offering a full continuum of inpatient care, the hospital will also serve as a destination academic site for the training of inpatient psychiatry residents, medical students, nurses and other healthcare professionals.