16/03/2011 16:22:00

Acadia Healthcare Announces Expansion of Management Team, Adds Joey Jacobs as CEO

Waud Capital Partners (“WCP”) today announced the expansion of the

management team at its portfolio company, Acadia Healthcare Company

(“Acadia” or the “Company”), with the appointment of veteran behavioral

healthcare executive Joey Jacobs as Chief Executive Officer.

Acadia was formed by WCP in 2005 to acquire, develop and operate a

national network of behavioral healthcare facilities.

“We are excited that Joey Jacobs and his senior management team have

joined Acadia to lead the next chapter of its growth and are fortunate

to have the opportunity to partner with a team of this caliber,” said

Chuck Edwards, Principal at WCP. “We believe their decision to join

Acadia recognizes the quality of the platform developed by the existing

team and evidences the promise that lies ahead for the Company.”

Mr. Jacobs and the management team join Acadia from Psychiatric

Solutions, Inc. Joining Acadia with Mr. Jacobs are Brent Turner, who

will serve as Co-President alongside former Acadia CEO Trey Carter; Ron

Fincher, Chief Operating Officer; Jack Polson, Chief Financial Officer;

and Chris Howard, who will serve as General Counsel. Karen Prince,

former Acadia COO, will become the President of the Eastern Division.

“I am eager to continue building upon Acadia’s history of success

providing high quality behavioral healthcare services to patients and

their families, and I am fortunate to be surrounded by an exceptional

management team with proven success in the industry,” said Joey Jacobs,

CEO of Acadia.

Trey Carter, Co-President of Acadia, said, “I look forward to working

with Joey Jacobs and his team in managing Acadia’s next stage of growth.

I am certain that, together with our employees, we will continue to

build upon the Company’s strong foundation.”

“The expansion of Acadia’s management team exemplifies WCP’s investment

style of partnering with highly experienced senior executives to build

industry-leading companies. We are confident that Joey and his team will

build upon the standard of excellence Trey Carter established during his

tenure as CEO of Acadia,” said Reeve Waud, Managing Partner of WCP.

About Acadia Healthcare Company

Headquartered in Nashville, Acadia was established in December 2005 to

acquire, develop and operate a network of behavioral healthcare

facilities across the country. Acadia provides premier 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.

For additional information on Acadia Healthcare Company, visit the

Company’s website at www.acadiahealthcare.com.

About Waud Capital Partners

Waud Capital Partners is a private equity investment firm founded in

1993 that partners with exceptional management teams to invest in middle

market growth equity investments, buyouts, industry consolidations and

recapitalizations. The firm seeks to invest $10 million to $100 million

in private companies in the following four areas: healthcare services,

business and consumer services, specialty distribution and value-added

industrial businesses. Typically, the companies in which WCP invests

have enterprise values between $30 million and $300 million. The firm

has completed more than 100 acquisitions since its founding and

currently has approximately $1 billion of capital under management.

For additional information on Waud Capital Partners, visit the firm’s

website at www.waudcapital.com.

Waud Capital Partners

Chuck Edwards, 312-676-8400

Principal

cedwards@waudcapital.com

or

BackBay

Communications

Kelly Holman, 212-209-3844

Director

kelly.holman@backbaycommunications.com

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