Acadia Healthcare Company, Inc. (Nasdaq: ACHC) acquired CRC Health Group, Inc. (CRC), a leading provider of treatment services related to substance abuse and other addiction and behavioral disorder, for $1.3 billion. At the time of closing, CRC operated 35 inpatient facilities with over 2,400 beds and 81 comprehensive treatment centers located in 30 states, and treated approximately 44,000 patients per day. The CRC acquisition was transformational for Acadia and represented the company's entry into the substance abuse market.
Waller assisted Acadia in all aspects of the transaction, including challenging real estate issues, Hart-Scott-Rodino compliance, and regulatory approvals. In addition, both CRC and Acadia had significant private equity ownership stakes, further complicating the dynamics. Extensive negotiations among the significant stockholders on matters of registration rights and other stockholder matters were required. Moreover, a portion of the consideration paid was in the form of Acadia stock requiring extensive securities law analysis and structuring. In addition to its role on the acquisition transaction, Waller acted as lead counsel to Acadia in financing the acquisition.
Acadia is the leading publicly traded pure-play provider of behavioral healthcare services, with operations in the United States and the United Kingdom.
Enabled client, the owner of a very valuable parcel of real property in downtown Nashville, to resolve a dispute with a commercial tenant regarding the viability of a tenant option to extend the lease term which, in turn, enabled the client to market and sell the property.
Successfully defended a claim that a dental services organization client had improperly terminated its contractual relationship with an affiliated dentist affiliate and obtained an award of attorneys’ fees for the client.
Advised HCA Healthcare, Inc. in its $450 million asset purchase of Memorial University Medical Center in Savannah, Georgia.
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