BRENTWOOD, Tenn., Dec. 13, 2016 /PRNewswire/ -- AAC Holdings, Inc. (NYSE: AAC), through one of its subsidiaries, has leased one floor from New Orleans East Hospital to operate 36 in-network beds that will provide detoxification and residential treatment services. The beds are expected to be operational in the first half of 2017, subject to receiving licensure, and will be operated by American Addiction Centers' Townsend clinical staff. Terms of the five-year lease were not disclosed.

Built in 2014, the 80-bed New Orleans East Hospital is situated on the site of the former Pendleton Memorial Methodist Hospital that was devastated by Hurricane Katrina in 2005. The hospital is operated by Louisiana Children's Medical Center.

"New Orleans East Hospital has filled a critical role in the eastern New Orleans community since its opening, and we're proud to work with them to meet the addiction treatment needs in the greater New Orleans area," said Michael Cartwright, Chairman and Chief Executive Officer of AAC Holdings. "This agreement is a new structure for us, and one that we believe can be replicated in other communities across the country. This additional inpatient detoxification and residential capacity enables us to support Townsend's inpatient and outpatient centers as well as other treatment providers in Louisiana."

About American Addiction Centers
American Addiction Centers is a leading provider of inpatient and outpatient substance abuse treatment services. We treat clients who are struggling with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues. We currently operate substance abuse treatment facilities located throughout the United States. These facilities are focused on delivering effective clinical care and treatment solutions. For more information, please find us at AmericanAddictionCenters.org or follow us on Twitter @AAC_Tweet.

Forward Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are made only as of the date of this release. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "could," "estimates," "expects," "may," "potential," "predicts," "projects," "should," "will," "would," and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements may include information concerning AAC Holdings, Inc.'s (collectively with its subsidiaries; "Holdings" or the "Company") possible or assumed future results of operations, including descriptions of Holdings' revenues, profitability, outlook and overall business strategy. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from the information contained in the forward-looking statements. These risks, uncertainties and other factors include, without limitation: (i) our inability to operate our facilities; (ii) our reliance on our sales and marketing program to continuously attract and enroll clients; (iii) a reduction in reimbursement rates by certain third-party payors for inpatient and outpatient services and point of care and definitive lab testing; (iv) our failure to successfully achieve growth through acquisitions and de novo expansions; (v) uncertainties regarding the timing of the closing of acquisitions; (vi) the possibility that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of an acquisition; (vii) our failure to achieve anticipated financial results from prior acquisitions; (viii) a disruption in our ability to perform definitive drug testing services; (ix) maintaining compliance with applicable regulatory authorities, licensure and permits to operate our facilities and lab; (x) a disruption in our business and reputation and potential economic consequences with the civil securities claims brought by shareholders; (xi) our inability to agree on conversion and other terms for the balance of convertible debt; (xii) our inability to meet our covenants in the loan documents; (xiii) our inability to obtain senior lender consent to exceed the current $50 million limit in unsecured subordinated debt; (xiv) our inability to integrate newly acquired facilities;; and (xv) general economic conditions, as well as other risks discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. As a result of these factors, we cannot assure you that the forward-looking statements in this release will prove to be accurate. Investors should not place undue reliance upon forward looking statements.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aac-holdings-adds-in-network-detoxification-and-residential-treatment-capacity-through-agreement-with-new-orleans-east-hospital-300376916.html

SOURCE AAC Holdings, Inc.

Copyright 2016 PR Newswire

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