Adopted and Locked Away: Kids promised 'forever homes' instead confined in for-profit institutions

[BlueWaveNeverEnd]

4. publicly traded company Acadia Healthcare has been scrutinized as it has come to dominate the business. Lesser known ent

publicly traded company Acadia Healthcare has been scrutinized as it has come to dominate the business. Lesser known entities like FHW and Embark Behavioral Health are often backed by private equity firms, which aren’t required to disclose their inner workings publicly. Those investor groups didn’t respond for comment.

Private equity’s focus on fast profits is especially troublesome, said Eileen O’Grady, who researched the industry for a 2022 report for the watchdog organization Private Equity Stakeholder Project. She found problematic facilities often reopen under new names, which makes them harder to track and less accountable to litigation.