Acadia Healthcare Co. Inc. is exploring a possible sale and has attracted buyout interest from private equity firms, Reuters reported Oct. 18, citing people familiar with the matter.

The Franklin, Tenn.-based operator of mental healthcare facilities has been approached by KKR & Co. and TPG Global, the news outlet's sources stated, adding that there is no certainty of a deal.

The operators of centers for mental diseases have received a renewed interest from private equity firms after the U.S. allowed insurance coverage for behavioral health and substance abuse treatment, according to Reuters.