Three top executives at Acadia Healthcare have announced their resignation this week, leaving its C-Suite in a massive transition.
Earlier this week, CEO Debbie Osteen announced her retirement from the behavioral health giant. Osteen replaced Joey Jacobs after he was ousted by the board of directors in 2018, prompting a chain of departures from his allies.
Jacobs bought stake in Acadia in 2011 with a team of former executives from Psychiatric Solutions, a behavioral health company bought by Universal Health Services in 2010 (Osteen was an executive with the company at the time).
That team seems to be joining an up-and-coming behavioral health network and local competitor, Summit BHC, which has so far attracted three Psych Solutions and Acadia alumni, with two key recruitments announced earlier this week.
Andy Hanner and Kim Brady, Acadia chief strategy officer and chief human rsources officer, respectively, will leave the company after being recruited to Summit by CEO Brent Turner.
Turner was previously the president of Acadia and came to the company with Jacobs, Hanner and Brady after the sale of Psych Solutions. Upon the ouster of Jacobs, Turner resigned “by mutual agreement,” according to the company at the time, and with a shortened non-complete clause — hinting at a Psych Solutions 3.0.
The latest round of departures underlines the high turnover Acadia’s executive team has been experiencing since 2018 as the board of directors looks to “grow and drive value.” Acadia also lost a division president in 2020 to local peer Odyssey Behavioral Health and chief operating officer Ron Fincher shortly after Jacobs left.
Acadia now has some gaping holes in its leadership team to fill, but retains its chief financial officer, general counsel, EVP of operations, EVP of finance, SVP of strategy affairs, chief medical officer and chief quality and compliance officer in the C-Suite. Those holes come against the backdrop of worker strikes within one of Acadia’s facilities in Seattle, demanding safer working environments after violent attacks from patients.
A spokesperson for the company did not respond to requests for comment prior to this article being published.