Acadia Healthcare Company CEO Debbie Osteen will retire from the Franklin-based behavioral health company.
Her retirement is expected to be effective on Jan. 31, though she will stay on as a member of Acadia’s board of directors and will assist in the selection of a replacement and transition, according to a release.
Osteen took over as CEO from Joey Jacobs in late 2018 after working at Universal Health Services for more than three decades.
During her tenure at Acadia, she oversaw the 2020 offloading of its United Kingdom division.
Acadia stock reached a five-year low near the start of the pandemic in 2020 but has steadily risen since then, and was trading at $61.78 per share Tuesday morning.
“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,” Reeve Waud, chairman of Acadia’s board of directors, said in the release. “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 health care systems and the expansion of multiple facilities with over 1,000 bed additions.”
The company employs more than 20,000 people in 40 states and Puerto Rico. Its more than 10,000 beds include treatment options in the inpatient psychiatric, specialty treatment, residential treatment and outpatient sectors.