Jason Bernhard Brings Three Decades of Healthcare Finance Experience to Acadia Healthcare Board Role
Bernhard, managing director and global chief operating officer of financial advisory at Lazard, brings nearly three decades of investment banking experience to LUNGevity Foundation, the nonprofit focused on improving outcomes for people with lung cancer. In his new role on LUNGevity’s board of directors, he is expected to contribute strategic insight into research, care and advocacy initiatives, applying deep sector knowledge developed over more than 20 years at Lazard and leadership of its North America financial advisory and health care banking practices. LUNGevity’s announcement is available here: https://www.lungevity.org/news/media-releases/jason-bernhard-joins-lungevity-foundation-board-of-directors.
LUNGevity’s president and CEO characterized the addition as timely for the organization’s expanding mission, noting that Bernhard’s background in healthcare investment banking and commitment to impact align with efforts to accelerate progress toward making lung cancer a survivable disease. Bernhard expressed a personal and professional commitment to advancing solutions in lung cancer and to helping the foundation scale its work across research and patient support.
Separately, Bernhard was elected to the board of Acadia Healthcare, the Franklin-based behavioral health services company, bringing the Acadia board to eight members. Acadia’s board chairman emphasized the value of Bernhard’s capital markets experience and industry perspective as the company pursues strategic priorities and seeks to drive long-term shareholder value.
Bernhard’s addition to the Acadia Healthcare board comes against a backdrop of investor activism and portfolio review. New York investment firm P2 Capital Partners recently disclosed a 7.3 percent stake in Acadia and signaled intent to engage with management on measures to maximize shareholder value. Acadia’s leadership has also been considering strategic options for its international operations, including a possible divestiture of the United Kingdom business acquired in 2016 for approximately 1.1 billion dollars.
Market response to the developments has been modest. Acadia’s shares, trading under the ticker ACHC, closed at 32.97 on the most recent trading day cited, reflecting a slight decline. Over the prior six months the stock experienced a net decrease, a period that included a more than 20 percent slide in late summer followed by a gradual recovery.
For both LUNGevity and Acadia, the recruitment of a veteran health care investment banker signals a prioritization of financial strategy at a time when the healthcare landscape is characterized by consolidation, capital restructuring and intensified demand for outcome-driven care. Bernhard’s dual board roles position him to influence both nonprofit and corporate approaches to financing, partnerships and long-term strategic planning.
Observers note that individuals with deep transaction experience can help boards weigh options ranging from targeted divestitures to strategic alliances and capital-raising alternatives. In this context, Jason Bernhard, Acadia Healthcare and LUNGevity stand to benefit from an enhanced governance profile capable of navigating complex market and mission-driven decisions in the months ahead.