AUSTIN, Texas / Jan 09, 2024 / Business Wire / Ascension Seton and Acadia Healthcare announced today that the two organizations have formed a joint venture to expand access to behavioral healthcare in Austin, Texas, and surrounding communities.
The joint venture will focus on expanding Acadia’s current operations at Cross Creek Hospital, as well as the number of inpatient behavioral beds available in Austin. Acadia will construct a 106-bed expansion of the acute behavioral hospital, increasing the total licensed bed count to 196 upon completion. Acadia has committed to employ Ascension Seton Shoal Creek’s inpatient behavioral health associates at the newly constructed expansion, set to open in late 2024. Ascension Seton will continue to operate the Grace Grego Maxwell Mental Health Unit, a pediatric unit focused on mental health located at the Dell Children’s Medical Center.
The joint venture hospital will be in close proximity to Ascension Seton hospitals and will be one of the training sites for students, residents and fellows from Dell Medical School.
The Cross Creek expanded campus will be warm and welcoming with the mission to promote health and healing. The new hospital will be named “Cross Creek Hospital together with Ascension Seton.”
“This hospital will be a tremendous resource for those living in our community, including those who are most vulnerable, and we’re thrilled to bring together the expertise and capabilities from our two great organizations,” said Andy Davis, president and chief executive officer of Ascension Texas. “Acadia has an established track record of expanding access to high-quality, compassionate care in communities across the country. This joint venture will build upon our expertise while increasing the number of behavioral health beds and other behavioral health services available to patients throughout the region.”
Ascension Seton selected Acadia as their joint venture partner because of Acadia’s shared commitment to high-quality, compassionate, mission-driven care to improve the health of the individuals and communities they serve. Ascension Seton’s decision was further solidified by Acadia’s proven track record in joint venture partnerships and the existing relationship with the health system.
“Ascension shares our commitment to expanding access to high-quality behavioral health services and reforming the way mental health patients are seen and cared for,” said Chris Hunter, chief executive officer of Acadia Healthcare. “This joint venture presents a unique opportunity for us to expand services to an existing location with a world-class partner. At the same time, the teaching component of the hospital is a commitment by both organizations to the future of behavioral healthcare and will provide the region with qualified clinicians for years to come.”
About Ascension Texas
In Texas, Ascension operates Ascension Providence in Waco and Ascension Seton, which includes Dell Children’s Medical Center, the region’s only comprehensive children’s hospital and pediatric Level I trauma center, and Dell Seton Medical Center at The University of Texas, the region’s only Level I trauma center for adults. Ascension Seton partners with Dell Medical School at The University of Texas at Austin and shares a common vision of transforming healthcare through a focus on quality and value. Serving Texas for more than 120 years, Ascension is a faith-based healthcare organization committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable. Ascension is one of the leading non-profit and Catholic health systems in the U.S., operating 2,600 sites of care – including 139 hospitals and more than 40 senior living facilities – in 19 states and the District of Columbia. Visit www.ascension.org and www.dellchildrens.net.
About Acadia Healthcare
Acadia is a leading provider of behavioral healthcare services across the United States. As of September 30, 2023, Acadia operated a network of 253 behavioral healthcare facilities with approximately 11,100 beds in 39 states and Puerto Rico. With approximately 23,000 employees serving more than 75,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.
Last Trade: | US$39.10 |
Daily Change: | 2.01 5.42 |
Daily Volume: | 1,950,624 |
Market Cap: | US$3.630B |
October 30, 2024 July 31, 2024 |
Cue Biopharma is developing the first-ever class of therapeutics for the treatment of cancer that mimic the natural signals, or “Cues”, of the immune system. This novel class of injectable biologics selectively engages and modulates tumor-specific T cells directly within the patient’s body to transform...
CLICK TO LEARN MORECompass Therapeutics is a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. The company's scientific focus is on the relationship between angiogenesis, the immune system, and tumor growth...
CLICK TO LEARN MOREEnd of content
No more pages to load
COPYRIGHT ©2023 HEALTH STOCKS HUB