Acadia Healthcare Says It Faces New Federal Investigations

Acadia Healthcare, one of the country’s largest chains of for-profit psychiatric hospitals, is facing a fresh round of federal investigations into how the company admits patients and bills for their stay, the company disclosed on Friday. The company, which operates more than 50 psychiatric hospitals nationwide and gets much of its revenue from government insurance programs, said that federal prosecutors in Manhattan this week requested information from the company and that it also received subpoenas from a federal grand jury in Missouri. Acadia said it expected to receive similar inquiries from the Securities and Exchange Commission.

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Source: https://www.nytimes.com/2024/09/27/business/acadia-federal-investigations.html

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