AdCare, Inc. (Applicant), with a principal place of business at 107 Lincoln Street, Worcester, MA 01605, intends to file a Notice of Determination of Need with respect to a change in corporate control of AdCare Hospital of Worcester, a hospital that provides substance abuse treatment services at 107 Lincoln Street, Worcester, MA 01605 and the following outpatient locations: 14 Beacon Street, Boston; 88 Faunce Corner Road, Suite 260, North Dartmouth; 1419 Hancock Street, Quincy; 117 Park Avenue, West Springfield; and 95 Lincoln Street, Worcester (collectively, the Hospital). The Applicant is the sole shareholder of the Hospital. Pursuant to a securities purchase agreement, dated September 11, 2017, AAC Healthcare Network, Inc., a subsidiary of AAC Holdings, Inc., a leading provider of inpatient and outpatient substance abuse treatment services, will acquire 100% of the stock of the Applicant.
The Total Value of this transaction based on the Hospital’s last full year of reported operating revenues is $39,155,518. The Applicant does not anticipate any price or service impacts on the Applicant’s existing Patient Panel as a result of the transaction. Any ten Taxpayers of Massachusetts may register in connection with the intended Application or amendment by no later than November 24, 2017 by contacting the Department of Public Health Determination of Need Program, 250 Washington Street, 6th Floor, Boston, MA 02108.