Leaders took notice of American Addiction Centers' initial public offering this week. It is the second company launched by CEO Michael Cartwright, who has carved a niche in dual diagnosis, according to observers.
"The IPO is indicative of the interest in the investment market now in behavioral health," says David C. Guth, CEO of Centerstone of America. "We've always had specialty interests with certain investors who understood the importance. But for the first time, the entire healthcare industry knows the importance of mental health and substance abuse and its role, including where the industry is going. So I'm not a bit surprised by the success of the public offering."
Trading continued today with prices generally above $18 per share.