In a strategic move that underscores its ambitious growth objectives, Acadia Healthcare has appointed Brian Farley as its new General Counsel and Secretary, effective July 26, 2023. Farley brings a wealth of experience in legal affairs from his previous role as Chief Legal Officer at GoHealth, a prominent player in the Medicare Advantage marketplace. This transition comes as Acadia aims to double its revenue from $2.6 billion to as much as $5 billion by 2028, positioning itself as a leader in the burgeoning behavioral health sector.
In his new role, Brian Farley will oversee a dedicated team of attorneys managing all aspects of Acadia’s legal operations as part of the senior executive team. His responsibilities encompass a wide array of areas, including securities law, corporate governance, mergers and acquisitions, joint ventures, and compliance with regulatory requirements. Farley’s extensive background in healthcare law equips him to act as a strategic advisor to Acadia’s executive team and Board of Directors, facilitating effective decision-making in a rapidly evolving industry.
Before his tenure at GoHealth, Farley was instrumental at Allscripts, where he served as General Counsel and played a key role in navigating the complexities of healthcare technology law. Additionally, his experience at Motorola Mobility provided him with a solid foundation in corporate legal matters and regulatory compliance during a time of significant industry change, including the company’s acquisition by Google in 2012. Information about his career journey can be found on his Crunchbase profile.
As Acadia Healthcare embarks on its ambitious plans for growth, Farley’s expertise will be critical. The company has stated its intention to enhance its service offerings through the development of new facilities, strategic joint ventures, and targeted acquisitions. CEO Chris Hunter has emphasized the importance of becoming an indispensable provider for high-acuity and complex-need populations, a vision that will require robust legal oversight as the company expands its footprint across the United States.
Brian Farley succeeds Chris Howard, who retired after 12 years of dedicated service to Acadia. Howard will remain available as an advisor through February 2024 to ensure a smooth transition for Farley. This change in leadership reflects not only a shift in legal strategy but also a broader commitment to maintaining high standards of legal compliance and governance, as reported by Corporate Counsel.
Acadia Healthcare, headquartered in Franklin, Tennessee, has positioned itself as the largest stand-alone behavioral health company in the United States, boasting a market capitalization of approximately $7 billion and employing around 23,000 individuals across 250 facilities in 39 states. With Farley at the helm of its legal team, Acadia is well-equipped to navigate the intricate regulatory environment of the healthcare industry while pushing forward with its ambitious growth strategy.
As the healthcare sector continues to experience rapid changes driven by technology and regulatory shifts, leaders like Brian Farley will play a pivotal role in ensuring that companies like Acadia not only comply with existing laws but also adapt to new challenges. His track record of success in the healthcare industry, as showcased by Chicago Business, positions him to contribute significantly to Acadia’s mission of providing essential mental health services while fostering sustainable growth in a competitive marketplace.