Acadia Healthcare Company Inc. (Nasdaq: ACHC), the nation’s largest pure-play behavioral health provider, has officially announced a pivotal leadership change with the appointment of Christopher Hunter as the new CEO at Acadia Healthcare. The transition, effective April 11, comes as the organization prepares to enter its next chapter of growth following the retirement of longtime industry leader Debbie Osteen.
The new CEO at Acadia Healthcare will also take a seat on the company’s board of directors, signaling a comprehensive handoff of executive responsibility. The announcement reflects the board’s confidence in Hunter’s ability to lead the company forward during a time of rising demand for behavioral health services across the United States.
Strategic Search for Transformational Leadership
According to Reeve Waud, Acadia Healthcare’s board chair, the selection process for the new CEO at Acadia Healthcare was rigorous and deliberate. “The board conducted a thorough and highly selective process to find a chief executive officer who would complement our existing executive team and build on our strong foundation,” Waud stated in the official release.
“Chris brings the right combination of skills and expertise to lead Acadia as we continue to extend our market reach to meet the behavioral health needs of millions of Americans,” Waud added, pointing to Hunter’s operational acumen and growth-oriented mindset.
A Strong Resume in National Health Care Leadership
Hunter arrives as the new CEO at Acadia Healthcare with a proven track record of leading large-scale operations in the health care sector. He most recently served as president of the group, military, and specialty segment at Humana Inc. (NYSE: HUM), where he oversaw $7 billion in annual revenue across three distinct business units and supported 20 million members in 45 states.
Previously, Hunter served as chief strategy officer at Humana, overseeing corporate strategy, M&A, and partnerships. His leadership was instrumental in Humana’s acquisition of Kindred at Home in a $5.7 billion deal—the largest in the company’s history.
In his statement, Hunter acknowledged the weight of the opportunity: “This is an incredible honor, and I am excited to join such a strong, respected organization that is addressing a critical societal need at a pivotal time for our country. With a growing patient base and an industry-leading executive team already in place, I’m looking forward to building on the successful trajectory set by Debbie and the leadership team.”
Honoring Debbie Osteen’s Legacy
Before Hunter was named the new CEO at Acadia Healthcare, Debbie Osteen led the organization through a period of remarkable change and stabilization. She became CEO in December 2018, following the departure of founder Joey Jacobs, and previously spent 35 years at Universal Health Services (NYSE: UHS), serving as president of its behavioral health division.
Although Osteen had originally planned to retire before joining Acadia, she delayed her exit multiple times to ensure the organization had stable leadership. She extended her time with the company through March 2022, supporting the transition to the new CEO at Acadia Healthcare.
Under Osteen’s leadership, Acadia reversed a major financial downturn and returned to profitability. In 2021, the company reported $2.3 billion in revenue and $190.6 million in net income, a stark contrast to its $669 million loss in 2020.
Poised for Continued Expansion
With the new CEO at Acadia Healthcare now appointed, the company’s aggressive growth strategy remains firmly on track. At the close of 2021, Acadia operated 238 behavioral health facilities with approximately 10,500 beds across 40 states and Puerto Rico, serving 70,000 patients daily with the support of 22,500 employees.
The company has outlined plans to add 600 new beds in 2022, and projects the addition of 600 to 1,100 beds annually through 2024. These expansions will come via a blend of mergers and acquisitions, joint ventures with health systems, and new facility development.
As the new CEO at Acadia Healthcare, Hunter is expected to lead this next wave of growth while maintaining the organization’s focus on high-quality, evidence-based care. His experience managing national-scale operations and integrating strategic acquisitions positions him well for the task ahead.
Looking Ahead
The appointment of Christopher Hunter as the new CEO at Acadia Healthcare marks the beginning of a promising new chapter. The company has overcome significant financial and operational challenges in recent years and is now on strong footing for long-term expansion. With Hunter’s leadership, Acadia is expected to deepen its impact on communities across the U.S., expanding access to much-needed mental health and substance use treatment services.
For an organization responsible for serving tens of thousands of patients every day, leadership matters—and the board’s selection of Hunter as the new CEO at Acadia Healthcare reflects a bold step toward the future.
