Profile: CoreCivic Inc (CXW.N)
16 Sep 2019
CoreCivic, Inc., formerly Corrections Corporation of America, incorporated on September 24, 1998, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community. The Company provides a range of solutions to government partners that serve the public good corrections and detention management, government real estate solutions, and network of residential reentry centers. As of August 23, 2018, the Company owned 26 properties representing around 2.1 million square feet of real estate within its CoreCivic Properties portfolio, all used by government agencies. This portfolio consists of the Company's portfolio of 44 correctional and detention facilities within its CoreCivic Safety segment and 26 residential reentry centers within its CoreCivic Community segment, with an aggregate design capacity of approximately 69,000 beds and 13.6 million square feet of real estate.
In addition to providing fundamental residential services, the Company's facilities offer a range of rehabilitation and educational programs, including basic education, faith-based services, life skills and employment training, and substance abuse treatment. It also provides or makes available to offenders certain healthcare (including medical, dental, and mental health services), food services, and work and recreational programs.
The Company maintains contracts with certain governmental entities to manage their facilities for fixed per diem rates. Its contracts usually contain expiration dates with renewal options ranging from annual to multi-year renewals. The Company enters into facility contracts to provide prison bed capacity and management services to governmental entities for terms typically ranging from 3 to 5 years, with additional renewal periods at the option of the contracting governmental agency. The Company provides correctional services and conducts other business activities through taxable REIT subsidiaries (TRSs).
5501 Virginia Way
BRENTWOOD TN 37027-7680