AAC Completes Financial Restructuring, Unveils Board

American Addiction Centers this week announced that it has completed a financial restructuring and reduced its debut by about $500 million.

CEO Andrew McWilliams, who was elevated to the organization’s top executive role earlier this year, told BHE in an email that the restructuring positions AAC for growth as a stronger company.

“In 2021, we have plans to grow our inpatient and outpatient services, and acquisitions are a possibility,” McWilliams said. “We will also be expanding our partnerships with commercial insurance companies, government entities and other healthcare providers to serve as many patients as possible. We are excited about this next chapter for American Addiction Centers and what it will mean for the thousands of people who rely on our services every year to find long-term recovery and a new beginning.”

The next chapter for AAC will include a new, seven-member board of directors that will be led by chairman Bowen Diehl, who is president, CEO and a director of Capital Southwest Corp. Diehl joined Capital Southwest in 2014 as its chief investment officer and was promoted to president and CEO the following year.