Acadia Healthcare Announces Retirement of Chief Executive Officer
October 05 2021 - 8:30AM
Business Wire
The Board of Directors of Acadia Healthcare Company, Inc.
(NASDAQ: ACHC) today announced that Debbie Osteen will retire as
CEO. Ms. Osteen will continue to serve on Acadia’s Board of
Directors and will assist in the selection and transition of the
new CEO. It is anticipated that Ms. Osteen’s retirement will be
effective on January 31, 2022.
Reeve Waud, Chairman of Acadia’s Board of Directors, said,
“Debbie has done an outstanding job as Acadia’s CEO with the
support of a strong senior team, and the Board could not be more
pleased with the Company’s progress under Debbie’s leadership. We
are very appreciative of her efforts in leading the Company through
a period of significant progress and evolution, with the Company
now well-positioned for future growth. Since Debbie joined Acadia
in December 2018, she has led Acadia’s strategic vision and
executed a growth plan that includes the acquisition of 14
facilities, the establishment of nine joint ventures with leading
healthcare systems and the expansion of multiple facilities with
over 1,000 bed additions. The Company also successfully divested
its U.K. business operations, a key strategic priority to focus the
Company on growing and expanding its U.S. operations. During her
tenure, Acadia’s stock price has increased approximately 125%,
generating an increase in value to our stockholders of
approximately $3.3 billion.”
Ms. Osteen, a 35+ year veteran of the behavioral health care
industry, said, “I am proud of what we have accomplished since I
joined Acadia. The past three years have provided me with a unique
opportunity to work closely with the Board of Directors and
leverage my experience in behavioral health to lead Acadia through
a critical period. Most importantly, I am proud of the team at
Acadia and all our employees who demonstrate their commitment every
day by helping the many people who need quality behavioral health
care. Our employees’ resilience and passion has been particularly
evident during the COVID-19 crisis. Despite the unprecedented
challenges, we continue to provide care to patients within the
communities we serve and fulfill our vital, life-saving mission.
Today, with our deep and talented leadership team and over 20,000
dedicated employees, Acadia is well positioned to continue
implementing and executing our strategy and growth pathways,
solidifying our position as the largest stand-alone behavioral
healthcare company in the U.S.”
Mr. Waud remarked, “We thank Debbie for her leadership and the
Board is very excited about the next phase in the Company’s growth.
In addition, the Board appreciates Debbie’s desire to ensure a
smooth transition of leadership, and to continue to provide her
valuable insights by remaining on the Board. The Board has engaged
a national recruiting firm to conduct a comprehensive search to
identify the right person to lead Acadia in 2022 and beyond.
Acadia’s new CEO, working with our outstanding leadership team,
will continue to execute our strategic growth plan and ensure that
Acadia remains a patient-first organization focused on quality of
care and an employer of choice delivering strong returns for our
stockholders over the long term.”
About Acadia
Acadia is a leading provider of behavioral healthcare services
across the United States. As of June 30, 2021, Acadia operated a
network of 229 behavioral healthcare facilities with approximately
10,100 beds in 40 states and Puerto Rico. With more than 20,000
employees serving approximately 70,000 patients daily, Acadia is
the largest stand-alone behavioral health company in the U.S.
Acadia provides behavioral healthcare services to its patients in a
variety of settings, including inpatient psychiatric hospitals,
specialty treatment facilities, residential treatment centers and
outpatient clinics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211005005247/en/
Gretchen Hommrich Director, Investor Relations (615)
861-6000
Acadia Healthcare (NASDAQ:ACHC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Acadia Healthcare (NASDAQ:ACHC)
Historical Stock Chart
From Jul 2023 to Jul 2024