AAC Holdings, Inc. Reports Fourth Quarter and Full Year 2018 Operational Highlights and Other Recent Developments; Postpones Conference Call
Ares Acquisition Corporation Class A Ordinary Shares (AAC)
Last ares acquisition corporation class a ordinary shares earnings: 8/30 06:00 am
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ir.americanaddictioncenters.org
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Source: PR Newswire
BRENTWOOD, Tenn., March 13, 2019 /PRNewswire/ -- AAC Holdings, Inc. (NYSE: AAC) (the "Company") announced fourth quarter and full year 2018 operational highlights and other recent developments.Recent Operational and Fourth Quarter 2018 Financial Highlights:(All comparisons are to the comparable prior-year period, unless otherwise noted)Implemented over $30 million in annualized expense reductions to benefit 2019 operating margins Closed a $30 million incremental term loan with existing lenders to provide additional liquidity New admissions increased 39% to 4,184 (increase related to the acquisition of AdCare on March 1, 2018) Total average daily census was 1,002 compared to 995 (increase related to the acquisition of AdCare on March 1, 2018) Outpatient visits increased 104% to 44,165 (increase primarily related to the acquisition of AdCare on March 1, 2018)"The census downturn that we experienced in the last several months of 2018 was more significant than originally anticipated, with
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