CHICAGO (WBBM NEWSRADIO) -- Former psychiatric hospitals in the Uptown neighborhood that closed after losing Medicare certification last year have been bought and will be re-opening.
The former Lakeshore facilities were shut down following an investigation that found children were abused and neglected, but now they will re-open for both children and adults.
The 60-bed children’s hospital is expected to open next summer and the 100-bed adult hospital is expected to open in early 2023. The facilities will be know as Montrose Behavioral Health.
Acadia Healthcare, based in Tennessee, is reported to have paid $50 million dollars for the two hospitals and a clinic in the Uptown neighborhood.
The company bills itself the largest provider of behavioral health services in the country.
“We are pleased to have the opportunity to enter the greater Chicago area and address the significant need for behavioral health services for adults and children in this important market,” said Debbie Osteen, Chief Executive Officer of Acadia Healthcare in a statement.
“This transaction aligns with our strategy to identify underbedded markets for new facilities and opportunities that meet the criteria of our disciplined capital allocation framework. We intend to make significant investments across the three locations to ensure that Montrose Behavioral Health Hospital meets our industry-leading standards for exceptional patient care."
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