Solutions, Desert Hope parent company delisted from NYSE

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A Solutions Recovery facility in Las Vegas, June 2018 (Nevada Current file photo).
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A Solutions Recovery facility in Las Vegas, June 2018 (Nevada Current file photo).

The nation’s only publicly traded addiction treatment company has been delisted by the New York Stock Exchange. The NYSE suspended trading on American Addiction Centers (AAC) after the market closed on October 25, according to a statement from the company. 

The exchange acted “because the Company had fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.”

American Addiction Centers is the parent company of Desert Hope, a medical detox facility in Las Vegas.  The company purchased Las Vegas-based Solutions Recovery for $13 million in 2015. 

Last year AAC began closing its Solutions Recovery branded facilities and sober homes in Southern Nevada as its stock price tumbled from a high of $46.60 in July 2015 to less than a dollar per share.

AAC faces a number of wrongful death lawsuits involving its Las Vegas facilities. 

The Nashville Business Journal reports shares of the company are expected to move to an over-the-counter market.

A company spokeswoman did not respond to requests for comment.

Dana Gentry
Reporter | Dana Gentry is a native Las Vegan and award-winning investigative journalist. She is a graduate of Bishop Gorman High School and holds a Bachelor's degree in Communications from the University of Nevada, Las Vegas. Gentry began her career in broadcasting as an intern at Channel 8, KLAS-TV. She later became a reporter at Channel 8, working with Las Vegas TV news legends Bob Stoldal and the late Ned Day. Gentry left her reporting job in 1985 to focus on motherhood. She returned to TV news in 2001 to launch "Face to Face with Jon Ralston" and the weekly business programs In Business Las Vegas and Vegas Inc, which she co-anchored with Jeff Gillan. Dana is the mother of four adult children, three cats, three dogs and a cockatoo.