Acadia Healthcare (Nasdaq: ACHC), a leading behavioral health provider headquartered in Franklin, Tennessee, has unveiled an ambitious plan aimed at driving significant behavioral health growth and doubling its annual revenue by the end of 2028. The company expects total revenue to reach $2.6 billion by the end of this year, with profits estimated between $595 million and $605 million. By 2028, Acadia projects annual revenue of $4.5 billion to $5 billion and profits ranging from $1.06 billion to $1.2 billion, according to statements made during the company’s recent investor day.
Chris Hunter, who became Acadia’s CEO in April, outlined the company’s vision. “Our strategy as a company is this simple. It’s to become the indispensable behavioral health provider for high-acuity and complex-need patient populations,” Hunter said. Central to this strategy is a three-pronged approach: expanding the company’s facility footprint, broadening services across the care continuum, and strengthening technology capabilities to improve both patient and provider experiences. This strategy reflects a broader focus on behavioral health growth nationwide.
Expanding Facilities to Meet Growing Demand
Acadia Healthcare is actively pursuing growth through both organic and inorganic means. The company expects to add more than 1,000 beds per year starting in 2024, through new builds, joint ventures, and programmatic mergers and acquisitions (M&A). By the end of 2023, Acadia projects approximately 670 beds will be added, with around 570 already accounted for by year-end.
Currently, the company operates 246 facilities, including 10 residential treatment centers, 37 specialty services facilities, 51 acute care facilities, and 148 comprehensive treatment centers (CTCs), together providing roughly 10,800 beds nationwide. The addition of new facilities and CTCs is a major driver of behavioral health growth, allowing Acadia to better meet the needs of patients with complex conditions.
Addressing Critical Gaps in Behavioral Health
Acadia Healthcare’s expansion strategy is informed by three key market trends: unmet treatment needs, regional shortages, and the fragmented nature of the behavioral health industry. Chief Strategy Officer Andrew Lynch highlighted that 100 metropolitan areas are “significantly underbedded,” with fewer than 50 inpatient psychiatric beds per 100,000 residents. Acute inpatient psychiatric facilities alone accounted for nearly half (49%) of Acadia’s revenue in 2021, demonstrating the continued demand for intensive care services and opportunities for behavioral health growth.
The company also emphasizes continuity of care. Dr. Nassar Khan, who leads Acadia’s CTCs, explained that 70% of patients admitted to specialty facilities carry an opioid use disorder diagnosis. Many of these patients receive care at facilities located within 20 miles of a CTC. By strengthening linkages between specialty and comprehensive centers, Acadia ensures patients can access coordinated care throughout their recovery journey, reducing gaps and enhancing patient outcomes. This integrated approach is essential for sustainable behavioral health growth.
Investing in Technology to Drive Growth and Efficiency
Technology is central to Acadia’s expansion. While much of the behavioral health industry still relies on paper-based processes, Acadia plans to invest heavily in digital tools and electronic medical records (EMRs) to improve operational efficiency, patient outcomes, and workforce management. CFO David Duckworth emphasized the scale of this opportunity: “The potential for electronic medical records is a significant opportunity not only for Acadia but also for the industry as a whole.”
Hunter stressed that these investments will support long-term behavioral health growth by enabling data-driven care and proactive patient engagement. From expanding Wi-Fi access to exploring wearable devices that reduce staff workload, technology upgrades are expected to transform both patient experience and workforce efficiency.
John Hollinsworth, executive vice president of operations, noted that technology investments also help attract and retain top talent. “We want to lead the industry in our recruiting efforts but, more importantly, be seen as a provider of choice for mental health professionals and psychiatric nurses,” Hollinsworth said. Workforce stability is a key component of sustainable behavioral health growth.
A Three-Pronged Growth Strategy
Acadia Healthcare’s ambitious vision is built around three core pillars:
- Facility Expansion: Growing through de novo builds, joint ventures, and programmatic M&A to add thousands of beds and expand the footprint nationwide.
- Service Line Expansion: Linking specialty services with comprehensive treatment centers to provide integrated care for complex behavioral health and addiction cases.
- Technology Investments: Modernizing operations, improving patient experience, and enhancing workforce capabilities through data, EMRs, wearable devices, and facility upgrades.
Together, these pillars create a framework for sustained behavioral health growth, positioning Acadia as a leading provider in the field.
Looking Ahead: A Vision for 2028
With a strong focus on facility expansion, integrated services, and technology innovation, Acadia Healthcare is poised to become a leader in providing care for high-acuity and complex-need populations. The company’s ambitious revenue and profit goals, paired with strategic investments in people, facilities, and technology, reflect a long-term commitment to advancing behavioral health growth across the nation.
By addressing market gaps, linking services, and leveraging technology to enhance outcomes, Acadia is not only expanding its footprint but also redefining the standard of care in behavioral health. The next five years promise substantial gains for the company and the patients it serves, illustrating a bold vision for the future of behavioral health growth.
