Schizophrenia and Addiction Dual Treatment Centers: Is This the Investment You’ve Been Waiting For?

August 20, 2019

Michael T. Cartwright has served as Chairman of AAC Holdings, Inc.’s board of directors since 2011 and as its Chief Executive Officer since June 2013. Mr. Cartwright has almost 23 years of experience in the addiction treatment industry.

In 2009, Mr. Cartwright co-founded Performance Revolution, LLC, dba FitRx, a company focused on weight management, and served as its CEO until it merged into Forterus, Inc. in 2011. In 1999, he founded Foundations Recovery Network, LLC, a national alcohol and drug treatment company, and served on its board of directors and as its President and CEO until 2009.

In this 4,589 word interview, exclusively in the Wall Street Transcript, Mr. Cartwright explores the intrinsic value of his firm and it’s near term prospects as a publicly traded company:

“I started in the field in 1993 working in the inner city of Nashville at a place called the Mental Health Cooperative and started out as a case manager primarily working with people with schizophrenia and addiction in the inner city.

And at that time, if you recall, there were a lot of people being deinstitutionalized from psychiatric facilities, hospitals. Are you familiar with the movement in the 1990s to deinstitutionalize a lot of our mentally ill patients across the United States? It happened quite a bit in the 1990s.

…one thing I really noticed — because I myself was misdiagnosed when I was 18 years old and experienced treatment myself — one of the things that I noticed with a lot of patients that had psychosis or were deemed schizophrenic was that they were almost not allowed to go into addiction treatment centers.

In the 1990s, you couldn’t send somebody with schizophrenia to Hazelden or Betty Ford Center. They wouldn’t take them.

So I opened up a place called Foundations in 1995 to really focus on people with schizophrenia and addiction, and we did lots and lots of research on the best ways to help somebody who was severely and persistently mentally ill but who also had an addiction issue…”

Get the complete picture on how Mr. Cartwright built his medical treatment facility chain and the challenges it is facing today in the entire 4,589 word interview, only in the Wall Street Transcript.