Debbie Osteen’s career runs through two of the largest behavioral health operators in the country. Before she led Acadia Healthcare, she was president of the behavioral health division at Universal Health Services. Her January 2026 return to the Acadia Healthcare chief executive role brought that whole background back to the company.
Reeve Waud, chairman of the Acadia Healthcare board, cited her experience as central to the decision.
Leading at Universal Health Services
Osteen oversaw the behavioral health business at Universal Health Services, a major hospital operator, before she joined Acadia. That role put her in charge of a large behavioral portfolio and demanded command of both the operational and clinical sides of the field.
Jefferies highlighted exactly that combination. She had “run both Acadia and Universal Health’s behavioral business,” the bank said. The dual experience set her apart as a candidate.
Joining and Returning to Acadia Healthcare
Osteen first joined Acadia Healthcare in 2018 and served as chief executive through March 2022. She moved from one industry leader to another and carried her experience straight into the top job.
Her 2026 return reconnects that path. Reeve Waud and the board brought her back to lead Acadia Healthcare while they search for a long-term successor, drawing once more on a career built across the biggest names in behavioral health.