Acadia Announces CEO’s Plans to Retire

The Acadia Healthcare board of directors announced on Tuesday that Debbie Osteen is retiring as CEO. Her retirement is expected to be effective Jan. 31, 2022, and she will remain active with the organization as a member of its board, assisting in the selection of a new CEO as well as the leadership transition process.

Acadia Board Chair Reeve Waud said in a news release that the company is working with a national recruiting firm to find its next chief executive.

Osteen, who has spent 35 years in the field, was appointed to serve as Acadia’s CEO in 2018, a week after she stepped down as president of UHS’s Behavioral Health Division. In her time with Acadia, the company has acquired 14 facilities, established 9 joint ventures with partner healthcare systems, and expanded multiple facilities with the addition of more than 1,000 beds.

Acadia has also divested its UK operations, which the company said was “a key strategic priority” as it homed in on growth within the US. Acadia’s stock price, meanwhile, has increased by about 125% during Osteen’s tenure.

“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,” Waud said in a statement. “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.”

Osteen said in a statement that she “proud of what [Acadia has] accomplished” during her time as CEO, which she described as “a unique opportunity.”

“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,” Osteen said. “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.”