BRENTWOOD, Tenn., Dec. 7, 2017 /PRNewswire/ -- AAC Holdings,
Inc. (NYSE: AAC) announced that Michael
Nanko, Ph.D, will become AAC's President and Chief Operating
Officer, effective January 15,
2018.
Mr. Nanko has served as President of Behavioral Health Services
(BHS) for HCA, Inc. since July 2016
and previously as Chief Operating Officer of BHS from August 2015 to July
2016. The HCA behavioral service line includes 66 inpatient
facilities, 40 facilities with outpatient services across the
enterprise, several access centers serving HCA emergency
departments and acute care hospitals utilizing extensive
telepsychiatric services.
Commenting on the announcement, Michael Cartwright,
Chairman and Chief Executive Officer of AAC Holdings, Inc.,
said, "We have made measurable strides in improving the operations
at our facilities, call center and corporate office in the past
year with an intense focus on clinical quality and execution on our
strategic and financial objectives. The addition of Michael and his
deep experience in behavioral health aligns with our continued
emphasis on acute care opportunities such as Laguna Treatment
Hospital, Townsend Recovery Center New Orleans and AdCare and
brings proven operational skills that have contributed to the
success of HCA's behavioral business."
Before joining HCA, Mr. Nanko served as Vice President of Kaiser
Permanente Foundation Health Plan and Hospitals in Northern California, where he held a dual role
in health plan and operations with responsibilities across the
continuum of care. Prior to that experience, Mr. Nanko held a
variety of positions in healthcare and nonprofit management,
including as Vice President of Psychiatry and Continuing Care Services at Cedar Sinai
Medical Center and Health System in Los
Angeles, California, which included inpatient and outpatient
addiction services, and as Vice President of Mercy Healthcare
Arizona/Catholic Healthcare West (now Dignity Health) near
Phoenix, Arizona. Some of his
earliest exposure and experiences with addiction services occurred
when he was CEO of Sierra Vista Hospital in Sacramento, California and later as COO for a
large not for profit mental health and addictions services agency
in Los Angeles County, California.
Mr. Nanko's educational background includes a BA, MA and Ph.D in
Psychology.
About American Addiction Centers
American Addiction
Centers is a leading provider of inpatient and outpatient substance
abuse treatment services. We treat clients who are struggling with
drug addiction, alcohol addiction, and co-occurring
mental/behavioral health issues. We currently operate substance
abuse treatment facilities located throughout the United States. These facilities are
focused on delivering effective clinical care and treatment
solutions. For more information, please find us at
AmericanAddictionCenters.org or follow us on Twitter
@AAC_Tweet.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking
statements are made only as of the date of this release. In some
cases, you can identify forward-looking statements by terms such as
"anticipates," "believes," "could," "estimates," "expects," "may,"
"potential," "predicts," "projects," "should," "will," "would," and
similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain
these words. Forward-looking statements may include information
concerning AAC Holdings, Inc.'s (collectively with its
subsidiaries; "AAC Holdings" or the "Company") possible or assumed
future results of operations, including descriptions of AAC
Holdings' revenues, profitability, outlook and overall business
strategy. These statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results
and performance to be materially different from the information
contained in the forward-looking statements. These risks,
uncertainties and other factors include, without limitation: (i)
our inability to operate our facilities; (ii) our reliance on our
sales and marketing program to continuously attract and enroll
clients; (iii) a reduction in reimbursement rates by certain
third-party payors for inpatient and outpatient services and
point-of-care and definitive lab testing; (iv) an increase in our
provision for doubtful accounts based on the aging of
receivables; (v) our failure to successfully achieve growth
through acquisitions and de novo projects; (vi) uncertainties
regarding the timing of the closing of acquisitions, including the
acquisition of AdCare, Inc. ("AdCare"); (vii) the possibility that
a governmental entity may prohibit, delay or refuse to grant
approval for the consummation of an acquisition, including the
AdCare acquisition; (viii) our failure to achieve anticipated
financial results from contemplated and prior acquisitions; (ix) a
disruption in our ability to perform clinical diagnostic laboratory
services; (x) maintaining compliance with applicable regulatory
authorities, licensure and permits to operate our facilities and
lab; (xi) a disruption in our business and reputation and potential
economic consequences with the civil securities claims brought by
shareholders; (xii) our inability to meet our covenants in the loan
documents; (xiii) our inability to integrate newly acquired
facilities; and (xiv) general economic conditions, as well as other
risks discussed in the "Risk Factors" section of the Company's
Annual Report on Form 10-K, and other filings with the Securities
and Exchange Commission. As a result of these factors, we cannot
assure you that the forward-looking statements in this release will
prove to be accurate. Investors should not place undue reliance
upon forward looking statements.
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SOURCE American Addiction Centers