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TX highlights from Corrections Corporation of America's 3rd quarter earnings announcement

On November 5, 2015, Corrections Corporation of America (CCA) executives announced their 3rd quarter earnings results, including updates on the company's business in Texas. Check out the latest Texas updates from CCA below. You can find the full transcript here.

  • In October 2015, CCA closed the deal on the acquisition of Avalon Correctional Services, Inc. (Avalon), a for-profit community corrections company. As a result of the deal, CCA now owns or operates 17 re-entry facilities around the country, totaling 4,365 beds. Of the facilities acquired from Avalon, seven are located in Texas — a significant expansion of the company's control of private residential re-entry beds in the state. 
  • CCA hoping for contract renewal at the 1,400 bed Eden Detention Center under Federal Bureau of Prisons (BOP) CAR-16 procurement. Announcement anticipated 2017.
  • After a federal judge ruled that family detention violates the 1997 Flores Agreement, CCA currently awaits outcome of appeal process. In the meantime, in order to comply with the federal ruling, the South Texas Family Residential Center in Dilley, TX must operate as a "short term processing center" resulting in a reduction of the average length of stay for immigrant families at the facility. However, CCA is hopeful, stating: "... our government partner [ICE] continues to highlight the need for this facility and praises the high quality services and the open, safe and appropriate environment we provide to our residents at the facility."