Acadia Healthcare Company (NASDAQ:ACHC) a prominent healthcare provider, disclosed that it has received a voluntary request for information from the United States Attorney’s Office for the Southern District of New York.
On the same day, both Acadia and its subsidiary, Lakeland Hospital Acquisition, were issued grand jury subpoenas by the United States District Court for the Western District of Missouri.
These subpoenas are part of an investigation into the company's admissions practices, length of stay, and billing methods.
Acadia also indicated it anticipates similar requests for documents from the U.S. Securities and Exchange Commission and possibly other government agencies in the near future.
While Acadia is cooperating fully with the investigations, company representatives have stated that they cannot currently predict the impact these investigations may have on their business operations.