Promises Behavioral Health, a growing national provider of comprehensive behavioral health, substance use disorder treatment and related services, announced that its Chairman, Rob Waggener, will take on the added responsibilities of interim Chief Executive Officer.
NASHVILLE, Tenn., Feb. 27, 2020 /PRNewswire/ -- Promises Behavioral Health (“Promises”), a growing national provider of comprehensive behavioral health, substance use disorder treatment and related services, today announced that its Chairman, Rob Waggener, will take on the added responsibilities of interim Chief Executive Officer. Mr. Waggener, who has served as Chairman during and after Promises’ emergence from restructuring in March 2019, is a veteran strategic and operational leader in the healthcare industry, having previously been CEO of Foundations Recovery Network, Vice President for Addiction Services at Universal Health Services, and an investor in several healthcare ventures.
As interim CEO, Mr. Waggener succeeds Kirk Kureska, who is leaving to pursue other opportunities. The company plans to conduct a search for a permanent CEO.
“Promises Behavioral Health has made tremendous progress in the year following its emergence from restructuring,” noted Mr. Waggener. “We have taken essential steps to ensure high quality care for our patients and families, and a solid financial and operational foundation. Our actions have included right-sizing corporate overhead, developing a sound marketing strategy focused on strong relationships in our markets, and adding talented professionals to our team in key positions.”
Mr. Waggener added, “As we approach our one-year anniversary from a successful emergence from restructuring, Promises is executing on its plans to meet evolving demands and realize opportunities in the behavioral health industry. Promises has already materially increased average daily census and is poised for additional growth and deeper penetration into existing markets, through de novo, organic and strategic partnerships.”
“As Chairman, Rob Waggener has guided Promises on a steady strategic, operational, and financial path. We are confident that as interim CEO he will lead a talented and capable team to continue building on the progress made in 2019,” said Jim Pieri, Head of Private Healthcare at BlueMountain Capital Management, LLC (“BlueMountain”) a subsidiary of Assured Guaranty Ltd. Funds and accounts managed by BlueMountain and an associated investor group are majority owners of Promises.
“We also want to thank Kirk Kureska, who is moving on after helping to facilitate Promises’ successful emergence and transition, and we wish him well in his future endeavors,” Mr. Pieri noted.
About Promises Behavioral Health
Promises Behavioral Health is a family of behavioral health programs with regional brands such as The Right Step, The Ranch, Promises and Clarity Way. The company currently operates facilities across Texas, Tennessee, Florida, Pennsylvania and Massachusetts. Promises offers comprehensive, innovative treatment for substance use disorder, sexual addiction, trauma, eating disorders, and other mental health disorders. Through its programs, the company is committed to delivering clinically sophisticated treatment that promotes permanent lifestyle change, not only for the patient but for the entire family network. For more information, please visit www.PromisesBehavioralHealth.com.
Media Contact
Kathy Frossard
Chief Marketing Officer
kathy.frossard@promises.com
(615) 510-3688
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SOURCE BlueMountain Capital Management, LLC
