Franklin, Tenn.-based Acadia Healthcare has completed the real estate purchase of three nonoperational facilities in Chicago and will establish a behavioral health system called Montrose Behavioral Health Hospital.
The facilities consist of a 101-bed adult hospital, a 60-bed children's hospital and an outpatient facility, according to a Dec. 20 news release from the system.
Acadia plans to invest in infrastructure at the hospitals before they reopen. The children's hospital and outpatient facility are slated to open summer 2022, while the adult hospital will open early 2023 and will offer geriatric services, the release said.
"This transaction aligns with our strategy to identify underbedded markets for new facilities and opportunities that meet the criteria of our disciplined capital allocation framework," CEO Debbie Osteen said. "We intend to make significant investments across the three locations to ensure that Montrose Behavioral Health Hospital meets our industry-leading standards for exceptional patient care."