Acadia Healthcare Company, Inc. ACHC recently finalized the acquisitions of three comprehensive treatment centers (“CTC”) in North Carolina. These facilities have been rebranded as Raleigh Comprehensive Treatment Center, Greenville Comprehensive Treatment Center, and Hillsborough Comprehensive Treatment Center.
Each CTC offers medication-assisted treatment programs that incorporate behavioral therapy and support services to assist patients struggling with opioid addiction. These services include individual and group therapy, intensive outpatient options, partial hospitalization programs, and more.
Beyond medication prescriptions, the CTCs also provide counseling, vocational training, education, and other treatment services. Therefore, the newly acquired facilities are anticipated to enhance care accessibility and promote better health outcomes in the Raleigh, Greenville, and Hillsborough regions of North Carolina.
This move is expected to bolster Acadia Healthcare’s presence in North Carolina, with the company currently operating 10 CTCs in the state. Across the United States, ACHC manages 160 such locations spanning 32 states. Given the ongoing challenges related to opioid use disorders, the demand for ACHC’s CTCs is likely to remain robust in the foreseeable future.
The decision to deepen their roots in North Carolina by expanding care sites underscores Acadia Healthcare’s strategic focus on the state. This endeavor builds on a collaboration with the University of North Carolina’s Center for the Business of Health, where an analysis identified treatment gaps in the state. The regions where the acquired facilities are located were recognized as potential areas for CTC expansion, validating ACHC’s recent acquisition.
These initiatives are expected to drive higher revenues from Acadia Healthcare’s CTCs, contributing to the overall financial performance of the behavioral healthcare services provider. In 2023, CTC revenues totaled $500.2 million, marking a 19.1% increase from the previous year and accounting for 17% of the total revenue. With plans to open up to 14 new CTCs in 2024, Acadia Healthcare demonstrates an active expansion strategy for its CTC network throughout the year.
Acadia Healthcare also engages in joint ventures with U.S. health systems to establish new hospitals or expand existing facilities, aiming to add around 800 beds through wholly-owned and joint venture facilities in 2024.
Over the past six months, shares of Acadia Healthcare have surged by 8.9%, outpacing the industry’s growth rate of 36.1%.
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ACHC currently holds a Zacks Rank #4 (Sell).
Promising Medical Stocks to Consider
In the Medical sector, some noteworthy choices include HCA Healthcare, Inc. HCA, Insulet Corporation PODD, and Addus HomeCare Corporation ADUS. HCA Healthcare boasts a Zacks Rank #1 (Strong Buy), while Insulet and Addus HomeCare carry a Zacks Rank #2 (Buy) at present. Check out today’s Zacks #1 Rank stocks here.
HCA Healthcare has exceeded the Zacks Consensus Estimate in three of the last four quarters, with an average beat of 9.78%. Projections for HCA’s 2024 earnings forecast a 7.8% increase, while revenue estimates indicate a 6.2% growth compared to 2023.
Insulet has outperformed earnings expectations in all four recent quarters, with an average surprise of 100.09%. Forecasts for PODD’s 2024 earnings point to a 12% rise, and revenue projections suggest a 15.7% improvement from 2023.
The consensus estimate for PODD’s 2024 earnings has risen by 1.7% in the last 30 days, with Insulet shares gaining 1.7% in the past six months.
Addus HomeCare has surpassed earnings estimates in each of the last four quarters, showing an average surprise of 9.52%. Projections for ADUS’ 2024 earnings anticipate a 6.1% increase, while revenue estimates indicate a 7.9% improvement from 2023.
The consensus estimate for ADUS’ 2024 earnings has increased by 2.5% in the past 60 days, with Addus HomeCare shares rising by 22.5% in the past six months.
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Free Stock Analysis Report for HCA Healthcare, Inc. (HCA)
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Free Stock Analysis Report for Acadia Healthcare Company, Inc. (ACHC)
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