Acadia Healthcare Buys Timberline Knolls for $90M
The Lemont residential treatment center is Acadia's first facility in Illinois.
Acadia Healthcare Company has purchased the Lemont residential treatment center Timberline Knolls for $90 million, the company announced Monday.
According to a press release, the purchase covers both the operations and property at Timberline Knolls, which produced $33 million in revenue for the year ended June 30.
Timberline Knolls is a 43-acre facility located at 40 Timberline Drive in Lemont . It was founded in 2005 by a team of psychiatrists, psychologists and clinicians as a residential treatment center for women dealing with trauma, eating disorders and drug addiction.
The center currently has 122 beds, which Acadia is already planning to expand to 140 by the end of the year.
The facility is Acadia's first in Illinois.
"We are pleased to announce the addition of Timberline Knolls, a growing, profitable and well-run facility, to Acadia's expanding base of inpatient psychiatric facilities," said Joey Jacobs, Chairman and Chief Executive Officer of Acadia.
According to its website, Acadia Healthcare was established in Franklin, TN, in 2005 to develop and operate a network of behavioral health facilities across the country. It operates a network of 32 behavioral health facilities in 19 states that provides "premier 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."
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