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ACHC > SEC Filings for ACHC > Form 8-K on 4-Apr-2013All Recent SEC Filings

Show all filings for ACADIA HEALTHCARE COMPANY, INC. | Request a Trial to NEW EDGAR Online Pro



Entry into a Material Definitive Agreement, Financial Statements

Item 1.01. Entry into a Material Definitive Agreement.

On March 29, 2013, Acadia Merger Sub, LLC, a Delaware limited liability company ("Buyer") and wholly-owned subsidiary of Acadia Healthcare Company, Inc., a Delaware corporation ("Acadia"), entered into a Stock Purchase Agreement (the "Purchase Agreement") with First Ten Broeck Tampa, Inc., a Florida corporation, UMC Ten Broeck, Inc., a Florida corporation, Capestrano Holding 12, Inc., a Florida corporation, Donald R. Dizney and David A. Dizney (each a "Seller" and collectively, the "Sellers"). Under the terms of the Purchase Agreement, the Sellers will sell to Buyer, and Buyer will buy from Sellers, all of the outstanding capital stock of Ten Broeck Tampa, Inc., a Florida corporation ("TBT") and Capestrano Investment Company, Inc., a Puerto Rico corporation ("CIC"). CIC, and its respective subsidiaries, own and operate a 108-bed inpatient behavioral healthcare hospital and ten behavioral healthcare clinics in Puerto Rico. TBT is developing and constructing a 75-bed inpatient behavioral healthcare hospital in Tampa, Florida (the "Tampa Hospital").

The aggregate purchase price for the transaction to be paid by Buyer to the Sellers is (i) $91.8 million in cash, as adjusted for net working capital at closing, plus (ii) an amount paid by the Sellers prior to closing relating to the construction of the Tampa Hospital. The Purchase Agreement contains customary representations, warranties, covenants and indemnities. Consummation of the transaction is subject to various conditions, including completion of due diligence satisfactory to Buyer, expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and other customary closing conditions. If these conditions are satisfied, Acadia expects to close the transaction in the second quarter of 2013. The Purchase Agreement contains termination rights, including a right for either party to terminate the Purchase Agreement if the closing has not occurred on or before May 28, 2013, subject to certain extensions and conditions.

The foregoing summary of the Purchase Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Purchase Agreement attached as Exhibit 2 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                                   Description

     2              Stock Purchase Agreement, dated as of March 29, 2013, by and
                    among First Ten Broeck Tampa, Inc., UMC Ten Broeck, Inc.,
                    Capestrano Holding 12, Inc., Donald R. Dizney, David A. Dizney
                    and Acadia Merger Sub, LLC*

* Schedules and exhibits omitted pursuant to Item 601(b)(2) of Regulation S-K. Acadia agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request.

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