Acadia plans long-term debt for Partnerships in Care purchase

By Sara Rosenberg

New York, June 3 - Acadia Healthcare Co. Inc. has received a bridge loan commitment to back its acquisition of Partnerships in Care but plans to replace the bridge loan with a combination of long-term debt and equity, according to a news release.

Bank of America Merrill Lynch provided the debt commitment.

Under the agreement, Partnerships in Care, a U.K.-based provider of inpatient behavioral healthcare services, is being purchased for about $660 million in cash.

Closing is expected on July 1.

Acadia is a Franklin, Tenn.-based provider of inpatient behavioral healthcare services.

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