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Corporation
HEALTHCARE | Medical Facilities & Services / Specialized Healthcare Services
crchealth.com

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Founded Year

1995

Stage

Acquired | Acquired

Revenue

$0000 

About CRC Health Group

CRC Health Group is a provider of specialized behavioral health care services in the U.S. Each day, CRC employees treat more than 44,000 people with evidence based and outcome oriented approaches to behavioral health issues such as drug and alcohol addiction, specialized opiate addiction, weight management, eating disorders, and other behavioral issues. The company operates residential treatment facilities, outpatient clinics, medication assisted treatment programs, outdoor wilderness camps, and a variety of other therapeutic programs. CRC is committed to making its services widely and easily available at its 145 facilities throughout the U.S., while maintaining a passion for delivering advanced treatment.

CRC Health Group Headquarter Location

20400 Stevens Creek Boulevard 6th Floor

Cupertino, California, 95014,

United States

408-998-7260

Latest CRC Health Group News

Acadia Healthcare Reports Growth of 58.6% in Fourth Quarter Adjusted EPS to $0.46 and 55.2% in Revenue to $294.9 Million, Including 12.2% Growth in Same Facility Revenue

Feb 11, 2015

Acadia Healthcare Reports Growth of 58.6% in Fourth Quarter Adjusted EPS to $0.46 and 55.2% in Revenue to $294.9 Million, Including 12.2% Growth in Same Facility Revenue Completes Acquisition of CRC Health Group Establishes Guidance for 2015 Adjusted Earnings per Diluted Share in Range of $2.03 to $2.10 February 11, 2015 04:00 PM Eastern Standard Time FRANKLIN, Tenn.--( BUSINESS WIRE )--Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2014. For the quarter, revenue increased 55.2% to $294.9 million from $190.0 million for the fourth quarter of 2013. Income from continuing operations rose to $22.3 million, or $0.37 per diluted share, for the fourth quarter of 2014 from $12.4 million, or $0.25 per diluted share, for the fourth quarter of 2013. Adjusted income from continuing operations grew 87.6% to $27.2 million for the fourth quarter of 2014 from $14.5 million for the fourth quarter of 2013, while adjusted income from continuing operations per diluted share increased 58.6% to $0.46 from $0.29. The adjusted results exclude transaction-related expenses of $2.8 million and $3.3 million for the fourth quarter of 2014 and 2013, respectively. Weighted average shares outstanding increased 18.1% for the fourth quarter of 2014 from the fourth quarter of 2013, primarily due to the Company’s public equity offering in June 2014. A reconciliation of all GAAP and non-GAAP financial results in this release is on pages 8 and 9. Revenue for 2014 increased 40.8% to $1.0 billion from $713.4 million for 2013. Income from continuing operations was $83.2 million, or $1.50 per diluted share, for 2014 compared with $43.3 million, or $0.86 per diluted share, for 2013. Adjusted income from continuing operations increased 58.7% to $85.0 million for 2014 from $53.6 million for 2013, while adjusted income from continuing operations per diluted share increased 43.9% to $1.54 from $1.07. The adjusted results exclude a gain on foreign currency derivatives of $15.3 million for 2014, debt extinguishment costs of $9.4 million for 2013 and transaction-related expenses of $13.7 million and $7.2 million for 2014 and 2013, respectively. Weighted average shares outstanding increased 10.1% for 2014 from 2013. “Acadia’s strong operating results for the fourth quarter completed a year of substantial profitable growth for the Company,” said Joey Jacobs, Chairman and Chief Executive Officer of Acadia. “In addition to the growth momentum our operations demonstrated in 2014 - through which we achieved milestone annual revenues of more than $1 billion - we have made a great start to 2015 with the completion of the CRC acquisition. CRC, which produced revenues for 2014 of approximately $450 million and adjusted EBITDA of approximately $115 million, brings 35 inpatient facilities to Acadia with approximately 2,400 beds and 81 comprehensive treatment centers. We expect CRC to be meaningfully accretive to our financial results, while diversifying our services and payor mix.” To fund the CRC acquisition, Acadia issued approximately 5,975,000 shares of its common stock to former CRC stockholders; issued $375 million of new 5.625% senior unsecured notes due 2023; borrowed $500 million under a new $500 million incremental term loan facility and $25 million under Acadia’s existing revolving credit facility, in each case under its Amended and Restated Senior Credit Facility; and used approximately $70 million of cash on hand. Jacobs continued, “Our revenue growth for 2014 was primarily driven by the addition of approximately 1,800 beds to our operations through acquisition and organic growth. We completed five acquisitions during 2014, which brought 27 facilities and over 1,400 beds to Acadia. We also added 378 beds at existing facilities during the year. As a result, we completed the year with approximately 5,800 beds in 78 facilities in 24 states, the United Kingdom and Puerto Rico. “The Company’s same facility performance for the fourth quarter and full year reflected the addition of beds to existing facilities, as well as our initiatives to build revenue and increase efficiency and productivity at our facilities. Same facility revenues expanded 12.2% for the fourth quarter, as we produced an 11.5% increase in patient days and a 0.7% increase in revenue per patient day. This significant growth generated further operating leverage, which was primarily accountable for the 160 basis point increase in our same facility EBITDA margin to 26.2% for the quarter. Same facility revenue grew 10.9% for full year 2014 and EBITDA margin increased 180 basis points to 26.1%. Acadia’s consolidated adjusted EBITDA for the fourth quarter increased 69.5% to $66.4 million, which was 22.5% of revenue, from $39.2 million, or 20.6% of revenue, for 2013. “For 2015, we will continue to evaluate potential acquisitions in our highly fragmented behavioral healthcare markets and add new beds in existing facilities in both the U.S. and the U.K. Subsequent to the closing of the CRC transaction, we remain well positioned to finance our growth strategies, with availability under our revolving credit facility of approximately $266 million.” Acadia today established guidance for 2015 adjusted earnings per diluted share in a range of $2.03 to $2.10, an increase of approximately 32% to 36% over 2014. Additionally for the first quarter of 2015, the Company expects adjusted earnings per diluted share in a range of $0.40 to $0.41, an increase of approximately 43% to 46% over the first quarter of 2014. The Company’s guidance includes the impact of start-up costs at several de novo facilities coming on line in 2015. It also assumes an exchange rate of $1.52 per British Pound, which is approximately 7% lower than 2014, non-cash stock compensation expense of approximately $19 million and a tax rate of 32%. The Company’s guidance does not include the impact of any future acquisitions or transaction-related expenses. Acadia will hold a conference call to discuss its fourth quarter and year-end financial results and the completed CRC transaction at 9:00 a.m. Eastern Time on Thursday, February 12, 2015. A live webcast of the conference call will be available at www.acadiahealthcare.com in the “Investor Relations” section of the website. The webcast of the conference call will be available through February 27, 2015. Risk Factors This news release contains forward-looking statements. Generally words such as “may,” “will,” “should,” “could,” “anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue,” and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this news release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties and our future results could differ significantly from those expressed or implied by our forward-looking statements. Factors that may cause actual results to differ materially include, without limitation, (i) Acadia’s ability to complete acquisitions and successfully integrate the operations of acquired facilities, including the PiC and CRC facilities; (ii) Acadia’s ability to add beds, expand services, enhance marketing programs and improve efficiencies at its facilities; (iii) potential reductions in payments received by Acadia from the government and third-party payors; (iv) the occurrence of patient incidents, which could adversely affect the price of our common stock and result in incremental regulatory burdens and governmental investigations; (v) the risk that Acadia may not generate sufficient cash from operations to service its debt and meet its working capital and capital expenditure requirements; and (vi) potential operating difficulties, client preferences, changes in competition and general economic or industry conditions that may prevent Acadia from realizing the expected benefits of its business strategy. These factors and others are more fully described in Acadia’s periodic reports and other filings with the SEC. About Acadia Acadia is a provider of inpatient behavioral healthcare services. Acadia operates a network of 194 behavioral healthcare facilities with approximately 8,300 beds in 37 states, the United Kingdom and Puerto Rico. Acadia provides psychiatric and chemical dependency services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs. Condensed Consolidated Statements of Income (Unaudited)

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CRC Health Group Patents

CRC Health Group has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/9/2009

9/15/2015

Tumor markers, Molecular biology, Proteins, Gynaecological cancer, Bioinformatics

Grant

Application Date

6/9/2009

Grant Date

9/15/2015

Title

Related Topics

Tumor markers, Molecular biology, Proteins, Gynaecological cancer, Bioinformatics

Status

Grant

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