AAC Opens Detox, Residential in New Orleans  E-mail
Addiction Treatment Industry Newswire

12/13/2016 -ATIN - AAC Holdings, Inc., known more commonly as American Addictions Centers, has leased one floor from New Orleans East Hospital to operate 36 in-network beds that will provide detoxification and residential treatment services. The beds are expected to be operational in the first half of 2017, subject to receiving licensure, and will be operated by American Addiction Centers' Townsend clinical staff.

No financial information surrounding the lease nor AAC's estimated costs for setting up the center have been disclosed.

Built in 2014, the 80-bed New Orleans East Hospital is situated on the site of the former Pendleton Memorial Methodist Hospital that was devastated by Hurricane Katrina in 2005. The hospital is operated by Louisiana Children's Medical Center.

"New Orleans East Hospital has filled a critical role in the eastern New Orleans community since its opening, and we're proud to work with them to meet the addiction treatment needs in the greater New Orleans area," said Michael Cartwright, Chairman and Chief Executive Officer of AAC Holdings in a prepared statement.

"This agreement is a new structure for us, and one that we believe can be replicated in other communities across the country. This additional inpatient detoxification and residential capacity enables us to support Townsend's inpatient and outpatient centers as well as other treatment providers in Louisiana."

AAC is the only publicly traded "pure play" addiction treatment investment for investors who want to get exposure to what has been a fast growing sector of the healthcare marketplace, with mergers and acquisitions being highly active currently in the $35B addiction treatment marketplace.

Ted Jackson


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