Behavioral well being provider Summit BHC has named Todd Wyatt its future chief money officer.
This information comes at a time when Summit is rapidly growing. In January, the service provider declared the acquisition of seven psychiatric hospitals in six states from Strategic Behavioral Wellness. This extra an supplemental 613 inpatient psychiatric beds to its portfolio.
“Todd brings a prosperity of fiscal understanding and expertise in large-progress overall health treatment provider providers,” Brent Turner, CEO of Summit, reported in a assertion. “His extensive well being care expertise will be a important asset for Summit. We are fired up to have him join our leadership workforce as we go on to advance our position in the behavioral wellbeing field.”
A accredited general public accountant by coaching, Wyatt has been in the economical provider business for far more than 20 a long time. He joins the corporation following serving as CFO and SVP at Conifer Wellbeing Answers, a firm centered on furnishing earnings cycle and benefit-dependent treatment products and solutions to overall health treatment companies.
He experienced a 14-calendar year tenure at health care machines producing business Acelity, where he served in several roles which include SVP of small business transformation and CFO. Wyatt replaces Summit’s previous CFO, Chuck Edwards.
“I am enthusiastic to sign up for the proficient workforce at Summit and aid to fulfill their eyesight for the foreseeable future of behavioral overall health care,” Wyatt said in a statement. “I see a promising, expansion-loaded foreseeable future for Summit with caring people today, an progressive lifestyle, and expanding organization footprint.”
Established in 2013, the Franklin, Tennessee-headquartered enterprise delivers psychiatric and substance use problem therapy to adults and adolescents. Its expert services contain residential courses, acute psychiatric care, cleansing, partial hospitalization, intensive outpatient applications, health and wellness courses, and twin prognosis remedy.
The supplier owns and operates 32 inpatient facilities across 19 states.
In November, Client Squares, a Menlo Park, California-primarily based personal equity organization, bought Summit from FFL Companions and Lee Fairness Partners in a offer valued at more than $1 billion.
This isn’t Summit’s only new hire in the latest months. In June, the enterprise named Clay Philips as its new senior vice president of tactic and managed treatment. Also, in April, the corporation named Dr. Brian Brooker as its future senior vice president of excellent and compliance.
In addition to increasing by using acquisition, Summit has also been energetic in opening up de novo amenities. In August, for case in point, it opened a 116-bed comprehensive-provider psych medical center in Garner, North Carolina, in close proximity to Raleigh-Durham.
The opening demonstrates the company’s approach of tapping into “attractive industry dynamics” in essential geographies.
“There is a supply/need imbalance across all behavioral wellbeing sectors, such as acute psychiatric hospitals,” Turner recently informed Behavioral Health Company in an e mail. “Raleigh-Durham is suffering from robust advancement and we consider Raleigh Oaks Behavioral Wellbeing will be an crucial answer to psychological overall health alternatives in that local community.”