Acadia Healthcare Company, Inc.

Thank you for joining us today.

You will also find a reconciliation of that measure to the most directly comparable financial measure calculated according to GAAP on our website by viewing yesterday's news release under the Investors link. This conference call may contain forward-looking statements within the meaning of the Private Security Litigation Reform Act of 1995, including statements, among others, regarding Acadia's expected quarterly and annual financial performance for 2021 and beyond. For this purpose, any statements made during this call that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words believes, anticipates, plans, expects, and similar expressions are intended to identify forward-looking statements. You are hereby cautioned that these statements may be affected by the important factors among others set forth in Acadia's filings with the Securities and Exchange Commission and in the company's fourth quarter news release. And consequently, actual operations and results may differ materially from the results discussed in the forward-looking statements. The company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. At this time for opening remarks, I would like to turn the conference call over to Chief Executive Officer Debbie Osteen. Good morning.

and thank you for being with us today for our fourth quarter 2020 conference call. I'm here today with Chief Financial Officer David Duckworth and other members of our executive management team. David and I will provide some remarks about our financial and operating results for the fourth quarter and year and guidance for 2021. Following David's comments, I will provide additional details on our strategy going forward. We will then open the line for your questions. We are very pleased with our solid financial and operating performance for the fourth quarter, capping off what was an extraordinary and challenging year for our company and the nation since the onset of the COVID-19 pandemic. Before we get into the results, I want to thank all of Acadia's dedicated employees and clinicians for their continued support and heroic work to provide the highest quality care to our patients and their families in a safe and accessible manner. As the global COVID-19 pandemic continues to affect communities across the nation, we recognize our critical role as a leading provider of behavioral healthcare services. The ongoing uncertainties and many more. As always, our primary mission is to support our patients and the communities we serve. We are fortunate to have an experienced team across our operations and a proven business model that supports our ability to meet this strong demand and execute our strategy in this dynamic environment. We're pleased to complete the sale of our UK operations to Waterland Private Equity in January. This transaction represents a significant milestone for Acadia as it enables us to focus singularly on our U.S. operations, and we now have complete financial flexibility to pursue our strategic agenda. We are committed to our efforts to extend Acadia's market reach and enhance our service offerings in the U.S., which will in turn maximize long-term value for our stockholders. Our U.S. operations delivered favorable results with improvement across all key metrics for the fourth quarter of 2020, driven by higher demand and operational improvement. U.S. SANE facility revenue increased 7.6%, including a 3.6% increase in patient days and a 3.8% increase in revenue per patient day. reflecting robust demand for our services. Throughout 2020, we continue to see measurable improvement in our cost management efforts that we implemented in 2019 and 2020, driving operation efficiencies. And in fact, we achieved our goal of 20 million in annual run rate savings by the end of 2020. We continue to employ disciplined cost management across our business to maintain our strong capital position. We remain committed to making strategic investments in our future growth in the U.S. by expanding our market reach through bed expansions and additional growth opportunities. Despite challenges from COVID, we added a total of 460 beds which includes 220 beds through the opening of two new joint venture facilities as well as opening six CTCs in the U.S. We have extended our strong track record of partnering with health systems and hospitals across the country through joint ventures. In December, we opened Ascension St. Thomas Behavioral Health, a new 70 and the six-bed inpatient facility through our joint venture with Ascension St. Thomas in Nashville, Tennessee. With the proceeds from our divestiture of the UK operations, we now have a balance sheet that will allow us to pursue additional investments to grow. We believe ample opportunities exist, which I will discuss in more detail at the end of this call. Now, I will turn the call over to David Duckworth to discuss our financial results in more detail.