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Quintet of debt investors now control company
The parent company of American Addiction Centers has concluded its bankruptcy reorganization, during which is shed about $500 million of debt.
The reconstituted AAC runs 26 facilities in eight states and employs more than 2,000 people. It is, as it did in the runup to
its Chapter 11 filing, being led by CEO Andrew McWilliams, who took the helm from founder Michael Cartwright early this year.
“We are thankful to the court and our senior secured lenders for recognizing the critical need for our services both now and in the future,” McWilliams said in a statement. “We are excited to be positioned for growth as the first company to truly transform the treatment of substance abuse.” ....

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