UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 17, 2012 (July 17, 2012)
Acadia Healthcare Company, Inc.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 001-35331 | 46-2492228 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
830 Crescent Centre Drive, Suite 610, Franklin, Tennessee 37067
(Address of Principal Executive Offices)
(615) 861-6000
(Registrant’s Telephone Number, including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On July 17, 2012, Acadia Healthcare Company, Inc. (the “Company”) announced the planned departure of Jack E. Polson, Executive Vice President and Chief Financial Officer, who is leaving the Company effective July 31, 2012, to pursue personal interests.
David Duckworth, the Company’s Chief Accounting Officer, has been named Chief Financial Officer effective July 31, 2012. Mr. Duckworth, 32, joined the Company as Controller in April 2011 and became Chief Accounting Officer in January 2012. From May 2010 to April 2011, Mr. Duckworth served as Director of Finance at Emdeon Inc., a leading provider of revenue and payment cycle management and clinical information exchange solutions. Previously, Mr. Duckworth was a Manager with Ernst & Young LLP, which he joined in 2002.
There are no family relationships among any of the Company’s directors, executive officers, and Mr. Duckworth, and there are no related party transactions between the Company and Mr. Duckworth reportable under Item 404(a) of Regulation S-K. The terms of any material plan, contract or arrangement with Mr. Duckworth or any material amendment to an existing plan, contract or arrangement in connection with his appointment as Chief Financial Officer are not available at this time, but to the extent required will be reported when finalized.
A copy of the press release announcing the changes described above is filed as Exhibit 99 to this report.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit No. |
Description | |
| 99 |
Press Release of Acadia Healthcare Company, Inc., dated July 17, 2012 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ACADIA HEALTHCARE COMPANY, INC. | ||||||
| Date: July 17, 2012 | By: | /s/ Christopher L. Howard | ||||
| Christopher L. Howard | ||||||
| Executive Vice President, Secretary and General Counsel | ||||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99 |
Press Release of Acadia Healthcare Company, Inc., dated July 17, 2012 | |
Exhibit 99
Contact:
Brent Turner
President
(615) 861-6000
Acadia Healthcare Announces Planned Departure of Jack Polson, EVP and CFO
Chief Accounting Officer, David Duckworth, to Succeed as CFO
FRANKLIN, Tennessee, July 17, 2012 — Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced the planned departure of Jack Polson, Executive Vice President and Chief Financial Officer, who is leaving the Company effective July 31, 2012, to pursue personal interests. David Duckworth, Acadia’s Chief Accounting Officer, has been named Chief Financial Officer. Mr. Duckworth joined Acadia in April 2011, after having served since May 2010 as Director of Finance at Emdeon Inc., a leading provider of revenue and payment cycle management and clinical information exchange solutions, which was then a NYSE-listed company. Previously, Mr. Duckworth was a Manager with Ernst & Young LLP, which he joined in 2002. Among a number of healthcare clients he served at Ernst & Young, Mr. Duckworth worked with Psychiatric Solutions, Inc. (PSI) throughout that company’s eight-year tenure as a public company, including a number of years in which he served as Audit Manager.
Joey Jacobs, Chairman and Chief Executive Officer of Acadia, remarked, “We are saddened to announce that Jack Polson is departing Acadia, although we understand his decision to refocus his energy on personal pursuits. Jack has done a great job for Acadia and, previously, PSI since he joined us at PSI in 1997. We have greatly appreciated his dedication, leadership and integrity, and we wish him well for the future.
“As part of Jack’s development of an outstanding financial team at Acadia, he was instrumental in bringing David Duckworth to the Company, having worked with David in his role as a key member of PSI’s audit team at Ernst & Young throughout PSI’s years as a public company. Based on David’s extensive experience working with public companies — especially public healthcare companies — as well as our direct association with him over the years, we are confident he will do an outstanding job as CFO of Acadia.”
Jack Polson commented, “I could not ask for a better group of people to be associated with than my colleagues at Acadia and PSI. They are an extended family. In the past 15 years and, in particular, the last 18 months, we have accomplished many great professional achievements as a team, and I have attained many of my individual professional goals. I now want to focus on more personal goals. I have the utmost confidence that David and the rest of our finance team will handle this transition without missing a beat. I will certainly continue to be available to work with the team, if needed, to ensure the smoothest possible transition.”
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ACHC Announces Planned Departure of Jack Polson
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July 17, 2012
About Acadia
Acadia is a provider of inpatient behavioral health care services. Acadia operates a network of 32 behavioral health facilities with over 2,100 licensed beds in 19 states. Acadia provides psychiatric and chemical dependency services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.
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