Business
Acadia Healthcare Announces Retirement of Chief Executive Officer
FRANKLIN, Tenn.--(BUSINESS WIRE)-- The Board of Directors of Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that Debbie Osteen will retire as
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":" FRANKLIN, Tenn.--(BUSINESS WIRE)--\nThe 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.\n\nReeve 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.”\n\nMs. 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 a...