Acadia Healthcare
Acadia Healthcare Company, Inc. is an American provider of for-profit behavioral healthcare services. It operates a network of over 225 facilities across the United States and Puerto Rico. The company is headquartered in Franklin, Tennessee. As of 2024, Acadia operated over 50 inpatient psychiatric hospitals in 19 U.S. states, including Arizona, Arkansas, Florida, Georgia, Indiana, Michigan, Missouri, New Mexico, Ohio, Oklahoma, Pennsylvania, Tennessee, Utah, and Wisconsin.
Key facts
| Legal Name | Acadia Healthcare Holdings, Llc |
|---|---|
| Company Operating Status | Active |
| Full Address | 6100 Tower Circle, Suite 1000 Franklin, TN 37067 |
| Legal Entity Identifier | 5493005CW985Y9D0NC11 |
| Official Name | Acadia Healthcare Company, Inc. |
| Stock Symbol | ACHC |
| Ticker Symbol | ACHC |
| Wellfound ID | acadia-healthcare |
| Wikidata ID | Q28407181 |
Capital structure
$1.6bn total debt
| Instrument | Coupon | Maturity | Amount | Source |
|---|---|---|---|---|
| Term A Loans · Senior Secured | Term SOFR or Base Rate plus Applicable Rate (pricing grid based | Feb 2030 | USD 650m | source ↗ |
| Revolving Credit Facility · Senior Secured | Term SOFR or Base Rate plus Applicable Rate (same pricing grid a | Feb 2030 | USD 1.0bn | source ↗ |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Purchase Money / Capitalized Lease Indebtedness Cap · Negative Covenant | Not to exceed greater of $120,000,000 and 2% of Consolidated Total Assets | tight 2% vs negative covenant median 20% (n=79) | source ↗ |
| Applicable Rate Pricing Grid · Pricing | Five-level grid based on Consolidated Total Net Leverage Ratio: Level I (≥4.50x): SOFR+2.250%, BR+1.250%, CF 0.350%; Level II (<4.50x, ≥3.75x): SOFR+2.000%, BR+1.000%, CF 0.300%; Level III (<3.75x, ≥3.00x): SOFR+1.750%, BR+0.750%, CF 0.250%; Level IV (<3.00x, ≥2.25x): SOFR+1.500%, BR+0.500%, CF 0.200%; Level V (<2.25x): SOFR+1.375%, BR+0.375%, CF 0.200% | loose 4.5x vs pricing median 2x (n=7) | source ↗ |
| Consolidated EBITDA Add-back Cap (Restructuring / Cost Savings) · Financial Definition Covenant | Aggregate of restructuring cash expenses (Section (a)(v)) and Permitted Cost Savings add-backs not to exceed 20% of Consolidated EBITDA for any four fiscal quarter period | source ↗ | |
| Mandatory Prepayment — Asset Dispositions / Recovery Events · Mandatory Prepayment | 100% of Net Cash Proceeds from Dispositions or Recovery Events exceeding $75,000,000 per transaction / $150,000,000 per fiscal year in aggregate, with 12-month reinvestment right (extendable to 18 months if committed) | market 100% vs mandatory prepayment median 100% (n=26) | source ↗ |
| Lien Restriction · Negative Covenant | No liens except Permitted Liens; general basket for other liens securing indebtedness not to exceed greater of $175,000,000 and 25% of LTM Consolidated EBITDA | market 25% vs negative covenant median 20% (n=79) | source ↗ |
| Indebtedness Restriction — General Basket · Negative Covenant | Other indebtedness not to exceed greater of $175,000,000 and 25% of LTM Consolidated EBITDA | market 25% vs basket median 20% (n=122) | source ↗ |
| Minimum Consolidated Interest Coverage Ratio · Financial Maintenance | 3.00x minimum | tight 3x vs coverage median 1.7x (n=40) | source ↗ |
| Qualified Securitization Financing Cap · Negative Covenant | Not to exceed greater of $350,000,000 and 50% of LTM Consolidated EBITDA | loose 50% vs negative covenant median 20% (n=79) | source ↗ |
Contact details
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