AAC emerges from Chapter 11

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.