LifeStance Health Group, a provider of outpatient mental health care, has named Dave Bourdon as the new CEO, effective 3 March.
Bourdon, previously the company’s chief financial officer (CFO), succeeds Ken Burdick, who is retiring from the CEO role and will become the executive chairman.
Go deeper with GlobalData
He has been with LifeStance since November 2022, bringing over two decades of experience in the health care and mental health sectors.
Bourdon’s background includes a tenure as CFO of Magellan Health and various positions at Cigna. His early career included eight years of service with the US Coast Guard.
Bourdon said: “I am honoured to serve as LifeStance’s next CEO and have the opportunity to lead such an incredibly dedicated and talented team as we continue to focus on transforming mental health care and expanding access to communities across the country.
“I’m proud of the strong progress we’ve achieved over the last two years and look forward to working together to drive clinical and operational excellence, exceptional service for our patients and, in turn, profitable growth for shareholders.”
Ken Burdick has led LifeStance as CEO and chairman since September 2022.
During his tenure, the company consistently met or exceeded financial expectations for nine consecutive quarters.
Burdick’s extensive 45-year career in health care includes roles as executive vice-president of Markets and Products at Centene Corporation and CEO of WellCare Health Plans.
Burdick said: “Since joining LifeStance, we’ve made tremendous progress fortifying our foundation and strengthening our leadership bench to ensure that we provide an exceptional patient experience in alignment with our mission.
“Given our consistently strong operational and financial performance, I am confident that now is the right time to transition to a new CEO and believe Dave is exceptionally qualified to lead LifeStance into this exciting new chapter, while I continue to contribute to our long-term strategic direction.”
With Bourdon taking the CEO role, Ryan McGroarty has been appointed as CFO, effective from 17 March.
McGroarty has 25 years of expertise in health care including serving as CFO of Help at Home and holding multiple CFO positions at Cigna, with a focus on government and commercial programmes, as well as health care delivery and population and value-based solutions.
