Acadia Healthcare (NASDAQ: ACHC) saw its stock surge 26% Tuesday after announcing that former CEO Debra K. Osteen is returning to lead the company, effective immediately.
Osteen previously served as CEO from December 2018 to March 2022 and is replacing Chris Hunter, who is stepping down from both the CEO role and the board of directors. The leadership change comes as Acadia navigates challenging conditions affecting healthcare providers.
Jefferies analyst Brian Tanquilut said the news is positive for investors. “Debbie Osteen has a proven track record of turning the business around during her previous tenure,” he said.
Osteen has also been appointed to Acadia’s board. The company said the board will conduct a thorough search for a long-term CEO while exploring ways to maximize shareholder value, according to Chairman Reeve Waud.
Acadia reaffirmed its 2025 financial guidance, projecting revenue between $3.28 billion and $3.30 billion, adjusted EBITDA of $601 million to $611 million, and adjusted earnings per share between $1.94 and $2.04.
As the largest stand-alone behavioral healthcare company in the U.S., Acadia operates facilities nationwide and partners with multiple health systems through joint ventures.
