Benzinga | Dec 16, 2021 02:01PM EST

Acadia Healthcare Forms Joint Venture With Fairview Health Services; Terms Not Disclosed

Acadia Healthcare Company, Inc. (NASDAQ:ACHC) today announced that it has formed a joint venture with Fairview Health Services, one of Minnesota's leading health systems. Through this partnership, Fairview and Acadia plan to design and construct a new inpatient mental health and addiction facility in the Twin Cities' East Metro. The joint venture will bring together the two organizations' expertise and resources to address an identified need for behavioral health services in the region.

The new hospital will operate 144 inpatient mental health beds to address the growing, unmet need for accessible, high-quality and advanced mental health services. The new facility will focus on delivering the latest innovations in care in a calming and therapeutic environment designed specifically for patients receiving treatment for mental illness, supporting better outcomes and promoting the highest level of safety for staff and patients.

"Acadia is proud to be collaborating with Fairview to build upon their exceptional behavioral health services," said Debbie Osteen, Chief Executive Officer of Acadia Healthcare. "This joint venture expands our acute service line into Minnesota, providing care for patients across the region who struggle with acute symptoms of mental health and substance use disorders. This is our 16th joint venture partnership across the country and will represent a more than $50 million investment in the region's mental healthcare system."

"As the largest provider of mental health and addiction care in the region, we have a responsibility to innovate across the continuum of mental health and addiction care," said James Hereford, President and Chief Executive Officer of Fairview Health Services. "Improving access to and the quality of acute, inpatient mental health and addiction care is an important part of that commitment. In partnership with a world-class provider like Acadia Healthcare, a new hospital will help us continue to evolve the care we deliver to our patients and community."