Acadia Healthcare Names David Keys as Chief Development Officer

Rhea-AI Summary

Acadia Healthcare Company (NASDAQ: ACHC) has appointed David M. Keys as Chief Development Officer to drive mergers & acquisitions and expansion efforts. Keys brings nearly two decades of healthcare services experience, notably in investment banking and advisory roles. He aims to leverage his expertise to enhance Acadia's growth strategy, focusing on behavioral health services amidst increasing demand. Acadia operates 229 facilities across the U.S. and Puerto Rico, employing over 20,000 staff and serving around 70,000 patients daily.

Positive

• David M. Keys has extensive experience in healthcare services and investment banking.
• Keys will focus on expansion opportunities and strategic growth, aligning with the rising demand for behavioral health services.
• Acadia operates 229 facilities with approximately 10,100 beds, positioning it as the largest stand-alone behavioral health company in the U.S.

Negative

• None.

FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that David M. Keys, CFA, has been named Chief Development Officer. Keys will focus on mergers & acquisitions, de novo development and expansion opportunities.

Keys has been active in the healthcare services market for nearly two decades, including more than 15 years in investment banking and mergers and acquisitions advisory work. Prior to joining Acadia, he covered behavioral health and several physician practice management sectors as a managing director for Truist Securities, Inc., which he joined following the merger of SunTrust and BB&T. Prior to the merger, Keys was a managing director and head of healthcare investment banking for BB&T Capital Markets after having previously launched the healthcare advisory group at a Richmond-based boutique investment bank. Earlier in his career, he was an investment banker at Harris Williams & Co. and Piper Jaffray.

In addition to advisory work within the substance use disorder, eating disorder and at-risk-youth sectors, Keys was a co-founder of Creswell Partners, where he and his partners established Averhealth, a leading provider of substance use disorder treatment monitoring, care management and related support services to individuals on behalf of criminal justice systems and judicial treatment programs.

Keys earned a bachelor's degree from the University of North Carolina and an MBA from the University of Chicago Booth School of Business.

“David Keys is a respected healthcare expert with extensive experience leading strategic growth programs across the entire healthcare spectrum,” said Debbie Osteen, Chief Executive Officer of Acadia Healthcare Company. “He brings unique talents to Acadia through his previous work in investment banking, advisory and development. As demand for our behavioral health services continues to increase, we will pursue best-in-class transactions and strategic partnerships to meet the needs of the communities we serve across the United States and Puerto Rico. We look forward to working together as we execute Acadia’s growth strategy.”

“I am thrilled to join Acadia at a time when increased recognition of the need for behavioral health services is directly leading to expansion opportunities,” said Keys. “Whether through strategic acquisitions, de novo openings or facility expansions, I am proud to join a team that is focused on providing high quality patient care while delivering results through both a growth- and returns-oriented framework.”

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/20211011005604/en/

Gretchen Hommrich

Director, Investor Relations

(615) 861-6000

Source: Acadia Healthcare Company, Inc.

FAQ

Who is the new Chief Development Officer of Acadia Healthcare Company?

David M. Keys has been appointed as the Chief Development Officer.

What is the focus of David M. Keys at Acadia Healthcare?

Keys will focus on mergers & acquisitions, de novo development, and expansion opportunities.

How many facilities does Acadia Healthcare operate?

As of June 30, 2021, Acadia operates 229 behavioral healthcare facilities.

What is the significance of David M. Keys joining Acadia Healthcare?

His experience is expected to enhance Acadia's growth strategy amidst increasing demand for behavioral health services.

What is the stock symbol for Acadia Healthcare Company?

The stock symbol for Acadia Healthcare Company is ACHC.