American Addiction Centers (AAC) has started a new chapter in the company’s history. After years of financial struggles and a Chapter 11 bankruptcy filing, the substance use disorder (SUD) treatment provider recently completed a financial reorganization. The restructuring has helped AAC reduce its debt load by about $500 million and position the company for its […]
Six months after filing Chapter 11 bankruptcy, American Addiction Centers (AAC) has completed its financial restructuring process, the company announced Monday. During that time, AAC reduced its debt by about $500 million, setting the provider up for its “next phase of growth.” The ultimate goal is to continue serving people suffering from substance use disorder […]
The COVID-19 emergency has only exacerbated the nation’s substance use disorder (SUD) crisis, which was already a national emergency in and of itself. Amid the coronavirus, overdose deaths have spiked, with the nation seeing about a 10% increase in fatalities in the first three months of the year, according to the Centers for Disease Control […]
A federal bankruptcy court in Delaware has approved AAC Holdings’ reorganization plan. A judge gave it the OK Tuesday. Under the plan, the parent company of American Addiction Center will “emerge with the support of a term loan exit financing agreement that will equal AAC’s $62.5 million debtor-in-possession loan and $51 million of prepetition senior […]
The past year has been one of realignment for AAC Holdings (OTC: AACH), the parent company of American Addiction Centers. Last October, it was delisted from the New York Stock Exchange (NYSE) following financial struggles and exits from several top company leaders. Then this June, AAC filed Chapter 11 bankruptcy as a way to recapitalize […]
While it’s relatively easy to deliver mental health counseling remotely using telehealth, addiction treatment providers face more unique challenges in light of COVID-19. For those in substance use disorder (SUD) recovery, in-person touch points are especially important. Social contact helps reduce a person’s risk of relapse, and many people with SUD rely on the assistance […]
Behavioral health providers around the country are doing their best to meet the need for services while also mitigating the risks surrounding COVID-19. For some, that means suspending visitation and leaning into telehealth, while for others it means taking things day-by-day and case-by-case. Here’s how the behavioral health industry is responding to the coronavirus pandemic. […]
Symetria Health may not be of the size of American Addiction Centers (OTC: AAC), Recovery Centers of America or other industry giants in the substance use disorder (SUD) treatment space. But if you ask CEO Chris Hassan, the Naperville, Illinois-based company is well on its way. Founded in 2006, Symetria Health is the parent company […]
CEO Andrew McWilliams took the helm of AAC Holdings (OTC: AACH) at a time when many people would have jumped ship. In fact, last year, several company leaders did just that, with exits from president and COO Michael Nanko and four board members. The parent company of American Addiction Centers also suffered its share of […]
AAC Holdings Inc. (OTC: AACH), the parent company of American Addiction Centers, continued its attempt to cut costs and mitigate financial troubles in the third quarter of 2019. In Q3, it cut operating expenses by $23 million, or 28%, compared to the same quarter a year prior. However, the company still reported a loss of […]
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