Holland & Knight and Davis Miles McGuire Gardner Remove ADA Lawsuit Against Acadia Healthcare and Sierra Tucson to Arizona District

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Acadia Healthcare ($NASDAQ:ACHC) Company Incorporated is a specialty provider of behavioral health services with operations in the United States, United Kingdom, and Puerto Rico. Their services include psychiatric and chemical dependency services, drug and alcohol recovery programs, outpatient services, and specialty programs for eating disorders. On Monday, lawyers from Holland & Knight and Davis Miles McGuire Gardner removed a lawsuit concerning the Americans with Disabilities Act (ADA) against Acadia Healthcare Company Incorporated and Sierra Tucson to the Arizona District. The lawsuit was previously known as Parsons v. Acadia Healthcare Company Incorporated et al. Although the details of the case are still unclear, it is reported that the plaintiffs filed ADA complaints against the companies after they allegedly failed to make reasonable accommodations for disabled individuals. The case will now be adjudicated in the state court, which may provide a more favorable outcome for the companies.

It is likely that the defendants sought to move the case out of California where the plaintiffs originated from, as the state has a reputation for being more plaintiff-friendly when it comes to ADA cases. It is still too early to tell how this case will turn out, but it is clear that Acadia Healthcare Company Incorporated and Sierra Tucson are taking proactive steps to defend their interests. As a publicly traded company, Acadia Healthcare Company Incorporated relies on investor confidence in order to stay in business, and any negative publicity associated with this suit could significantly affect their bottom line. It remains to be seen how this case will play out, but one thing is certain: both parties are eager to see a resolution as soon as possible.

Stock Price

Following this news, the stock of Acadia Healthcare opened at $68.9 and closed at $68.1, down by 1.2% when compared to its previous closing price of 68.9. This news comes as a relief to Acadia Healthcare as it was facing allegations of discrimination in its healthcare services for the disabled. As the case has now been transferred to Arizona District Court, both companies are hopeful that they will be able to resolve the issue soon. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Acadia Healthcare are shown below. More…

Analysis

After analyzing ACADIA HEALTHCARE‘s fundamentals, GoodWhale has concluded that the company has a high health score of 8/10 with regard to its cashflows and debt, making it capable of sustaining future operations in times of crisis. Additionally, ACADIA HEALTHCARE is strong in profitability, medium in growth and weak in asset and dividend. We have classified it as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for companies that can provide a steady flow of income and have good financial stability may be interested in ACADIA HEALTHCARE. More…

Peers

The Company offers inpatient and outpatient behavioral healthcare services to children, adolescents, adults, and seniors through its facilities in the United States, United Kingdom, and Puerto Rico. Its competitors include Cross Country Healthcare, Inc., Surgery Partners, Inc., and AMN Healthcare Services, Inc.

– Cross Country Healthcare Inc ($NASDAQ:CCRN)

Cross Country Healthcare, Inc. is a national provider of healthcare staffing and workforce solutions. They provide innovative staffing solutions to the healthcare industry through their network of over 75 locations across the United States. Cross Country Healthcare is committed to improving the lives of those they touch by providing high-quality, compassionate healthcare staffing and workforce solutions.

– Surgery Partners Inc ($NASDAQ:SGRY)

Surgery Partners Inc is a healthcare services company that owns and operates surgical facilities and ancillary services in the United States. The company was founded in 2004 and is headquartered in Nashville, Tennessee. As of 2022, Surgery Partners had a market capitalization of $2.36 billion and a return on equity of 26.22%. The company’s surgical facilities provide a broad range of surgical procedures, including general surgery, ophthalmology, orthopedics, and pain management. In addition to surgical facilities, the company also owns and operates a number of ancillary businesses, such as a durable medical equipment company, a pharmacy, and a medical billing company.

– AMN Healthcare Services Inc ($NYSE:AMN)

The company’s market cap and ROE are impressive, and it is clear that the company is doing well. The company provides healthcare services and is clearly meeting the needs of its customers. The company’s future looks bright, and it is well-positioned to continue its success.

Summary

The company’s strong fundamentals and continued expansion make it a promising investment opportunity. Additionally, the company’s recent launch of a telehealth platform has further solidified its position in the market and should lead to further growth.