Purchases, More Beds Fuel Growth at Acadia Healthcare

Acadia Healthcare is growing. The Franklin-based mental health provider saw a nearly 60 percent increase in revenue in the second quarter. The company is also on a buying spree. It just completed a $90 million purchase in the Chicago suburbs

Timberline Knolls specializes in treating women with eating disorders. It’s profitable: last year, it brought in $33 million in revenue. Acadia’s completed its purchase of the facility last week, but CEO Joey Jacobs says big changes are already underway.

“We’re expanding that facility as we speak. We broke ground this week on 18 more beds. Those beds will be online at the end of this year. And on the drawing board we have another 34-36 bed expansion.”

Company-wide, Acadia has added nearly 500 beds at its hospitals and clinics. Timberline Knolls is the company’s fourth purchase of the year. Jacobs says Acadia is now on track to earn a billion dollars in revenue by 2014.