Acadia Healthcare Company, Inc. (NASDAQ: ACHC) appointed Daniel Cancelmi to its board of directors, effective immediately, according to a company statement.

Cancelmi served as executive vice president and chief financial officer of Tenet Healthcare Corporation for more than 11 years. During his tenure at Tenet, he oversaw the company's finance organization and helped grow revenue to nearly $21 billion in 2023. His career at Tenet spanned three decades, including roles as senior vice president and controller.

The appointment follows a search process conducted by Acadia's Nominating and Corporate Governance Committee with assistance from an executive search firm and engagement with Khrom Capital.

Acadia also announced that director Wade D. Miquelon will not stand for re-election at the 2026 annual meeting. Miquelon's retirement from the board will take effect at that time.

"We are grateful to Wade for his many contributions to the Company," said Reeve B. Waud, chairman of Acadia's board of directors, in the statement.

Cancelmi holds a Bachelor of Science from Duquesne University and serves on its board of directors. He is a certified public accountant licensed in Texas and Florida.

Acadia operates 277 behavioral healthcare facilities with over 12,500 beds in 40 states and Puerto Rico as of December 31, 2025. The company employs approximately 25,000 people serving more than 84,000 patients daily.

Goldman Sachs and J.P. Morgan are serving as financial advisors and Kirkland & Ellis LLP as legal advisor to the company.