Behavioral healthcare provider Acadia Healthcare signed a definitive agreement to buy Adventist Health's behavioral health hospital in Vallejo, Calif.
By mid-year, Roseville, Calif.-based Adventist expects to complete its sale of Adventist Health Vallejo to Acadia, pending regulatory reviews. The 61-bed psychiatric hospital offers inpatient and outpatient care to children and adults.
Franklin, Tenn.-based Acadia intends to make investments in the hospital to enhance its services, according to Juniper Advisory, which advised the deal.
The organizations announced the deal March 23. Financial details weren't disclosed.