Acadia sells its UK division

Friday, January 8, 2021, Vol. 45, No. 2

Franklin-based Acadia Healthcare has entered into a definitive agreement to sell its operations in the United Kingdom to Waterland Private Equity.

Acadia is a leading provider of behavioral health care services.

The company expects the sale to result in proceeds of approximately $1.35 million, net of transaction costs and the settlement of existing foreign currency hedging liabilities and based on the current GBP/USD exchange rate.

The proposed transaction is expected to close this month. The transaction includes the sale of the entirety of Acadia’s U.K. business operations, which are operated under the name of The Priory Group.

VUMC acquires hospitals in Shelbyville, Tullahoma

Vanderbilt University Medical Center has announced the acquisition of Tennova Healthcare-Shelbyville and Tennova Healthcare-Harton hospitals and their related businesses, including physician clinic operations and outpatient services, from subsidiaries of Community Health Systems Inc.

Terms of the transactions will remain confidential.

These facilities have been renamed Vanderbilt Bedford Hospital and Vanderbilt Tullahoma-Harton Hospital.

Also, VUMC has acquired a minority ownership interest in CHS’s affiliated Tennova Healthcare-Clarksville hospital and related physician practices through an agreement with Tennova’s existing minority partner, GHS Holdings, LLC, a wholly owned subsidiary of Clarksville Volunteer Health, Inc., a Clarksville nonprofit.

In a 2019 transaction with subsidiaries of CHS, VUMC acquired Tennova Healthcare-Lebanon, a 274-bed hospital in Lebanon, now called Vanderbilt Wilson County Hospital.

Through the acquisition, VUMC hired substantially all employees of the Shelbyville and Tullahoma hospitals who were in good standing when transfer of the hospitals’ ownership was complete. Tennova Healthcare-Clarksville and its employees and medical staff remain a part of the Tennova network of hospitals.

United breaks with Envision Healthcare

Nashville-based Envision Healthcare has announced UnitedHealthcare has decided not to renew its partnership.

This means Envision’s clinicians will not be part of United’s insurance plans. The decision was effective Jan. 1.

Following lengthy negotiations in 2018 in which United claimed Envision’s rates were two times their median, Envision took significant rate reductions. Two years later, in the midst of a national health crisis and record profits, United is claiming that Envision’s rates are now three times their median, a multiple only possible if United has cut reimbursement rates for emergency room doctors in the country by 50%.

While Envision has offered to meet United more than halfway in an effort to stay in-network during this national health crisis, Envision says it believes the immediate and drastic cuts to clinician pay that United is demanding at this time would be irresponsible.

AAC offers free care for struggling veterans

American Addiction Centers, based in Brentwood, has announced veterans who are struggling with drug or alcohol addiction may be eligible to receive 30 days of free care from the company.

AAC began accepting applications Jan. 1 for treatment at its Desert Hope Treatment Center in Las Vegas. Desert Hope has a specialized program, Salute to Recovery, that was designed to meet the unique needs of veterans.

American Addiction Centers also partners with VA medical centers nationwide as a community care provider to ensure more veterans have access to treatment year-round.

The residential treatment program offers various evidence-based therapeutic modalities to address addiction and the most common mental health diagnoses among veterans, including PTSD, depression, anxiety, and loss and grief.

The National Institute on Drug Abuse reports more than one in 10 veterans have been diagnosed with a substance use disorder and those individuals are three to four times more likely to receive a diagnosis of PTSD or depression.

To apply for free treatment, veterans can call 888-902-Vets and ask for an application. Applications will be accepted until all 10 spots are filled on or before Jan. 31.

Midstate tech jobs increase 36% in 5 years

The Greater Nashville Technology Council and Middle Tennessee State University have released the 2020 State of Middle Tennessee Tech Report, reporting the number of tech jobs in the Midstate grew by 36% during the 2014 to 2019 five-year period.

This was far ahead of the 23% national tech job growth rate during the same period, as well as the 28% statewide growth in tech jobs and the overall growth rate of 16% for all Midstate jobs.

This growth of tech jobs in Middle Tennessee is expected to slow over the next five years, with the report predicting 16% growth from 2019 to 2024, some 20 points below the rate of the previous five years. However, Middle Tennessee is still forecast to far outpace the nation in the growth of tech jobs by 2024, with only 9% growth expected nationally.

Middle Tennessee should also continue to lead the state, which is predicted to gain 13% more tech jobs over the next five years, and tech jobs in Middle Tennessee should also grow faster than the 10% growth expected across all occupations in the region.