Acadia Healthcare is best known for psychiatric hospitals. It also treats a lot of people who never stay overnight. The company runs a network of outpatient Comprehensive Treatment Centers offering medication-assisted treatment for opioid use disorder.
That network got bigger again this year. Two new treatment center locations opened in the second quarter, according to Acadia’s July 28 earnings release. Reeve Waud, who founded Acadia in 2005, chairs its board.
How the Network Was Built
Acadia’s move into outpatient addiction care goes back to 2014, when it bought CRC Health, an addiction treatment chain, from Bain Capital. That deal put the company into methadone clinics. Two more comprehensive treatment centers opened in 2022.
New openings and acquisitions followed. Acadia picked up three clinics in Clinton, Easley and Ridgeland, South Carolina, in October 2024. It rebranded them as part of its network, “offering care for people who are struggling with opioid addictions,” in the company’s words.
Those clinics fit into a wider mix of care. Acadia’s facilities include inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.
Where the Numbers Are
Comprehensive Treatment Centers are one of Acadia’s four business lines, alongside acute inpatient, specialty and residential treatment. Their revenue was flat in the second quarter of 2026. Acute inpatient and residential revenue grew, with residential treatment up 12%.
Residential addiction programs earned national attention in August. Eight Acadia centers made Newsweek’s 2026 list of America’s Best Residential Addiction Treatment Centers, including Mirror Lake Recovery Center in Tennessee and Wilmington Treatment Center in North Carolina, both ranked first in their states. “This ranking belongs to our entire team,” said Robert Pitts, Wilmington’s CEO, after the list came out.
Teens and Public Partners
Public agencies focused on opioids have joined Acadia’s youth projects. The 16-bed Northern Virginia Adolescent Treatment Center, which opened in Chantilly in March, counts the Virginia Opioid Abatement Authority, the Northern Virginia Community Services Boards and the Northern Virginia Regional Projects Office among its partners. Executive Director Kerrie Laughlin said the center offers “evidence-based, trauma-informed residential treatment in a secure environment.”
Clinics, residential centers and hospitals together served more than 84,000 patients a day across 40 states and Puerto Rico at midyear. Reeve Waud has chaired Acadia through each stage while also running Waud Capital Partners, the Chicago firm he founded in 1993. For Reeve Waud’s company, the November 4 earnings report will show whether treatment center revenue picks back up.
