Defining Wellness Centers Names Bill Morrison Chief Financial Officer

Rhea-AI Summary

Defining Wellness Centers (NASDAQ: ACCD) named Bill Morrison as Chief Financial Officer on March 9, 2026. Morrison brings 25+ years of healthcare finance experience, having grown ARR at Brave Health from ~$17M to $40M, reduced cash burn by 50%, led a $20M Series C, and previously sourced >$1B in M&A at Accolade.

The hire supports growth backed by Fulcrum Equity Partners and aims to strengthen financial infrastructure, strategic transactions, and expansion of behavioral health services.

Positive

• Experienced CFO hire with 25+ years in healthcare finance
• ARR growth track record at Brave Health: ~$17M to $40M
• Cash burn reduction of 50% achieved at prior employer
• Led $20M Series C equity and debt financing
• Executed >$1B in M&A transactions at Accolade

Negative

• None.

Key Figures

Industry experience: more than 25 years Annual recurring revenue: $17 million Annual recurring revenue: $40 million +5 more

8 metrics

Industry experience more than 25 years Morrison’s experience scaling healthcare and behavioral health companies

Annual recurring revenue $17 million Brave Health ARR at start of Morrison’s tenure

Annual recurring revenue $40 million Brave Health ARR after growth during Morrison’s tenure

Cash burn reduction 50 percent Reduction in cash burn at Brave Health under Morrison

Series C financing $20 million Brave Health Series C equity and debt financing led by Morrison

M&A volume more than $1 billion Mergers and acquisitions sourced and executed at Accolade

Beneficial ownership 65 shares Goldman Sachs Group and subsidiary reported ACCD common stock position

Ownership of class 0.0% Reported percentage of ACCD common stock class held in Schedule 13G/A

Market Reality Check

Price: $7.02 Vol: Volume 4491607 is 4.85x t...

high vol

$7.02 Last Close

Volume Volume 4491607 is 4.85x the 20-day average of 925333, indicating unusually active trading. high

Technical Shares trade above the 200-day MA of 4.77 with a price of 7.02, reflecting a longer-term uptrend before this news.

Market Pulse Summary

This announcement highlights a leadership change at a private behavioral health provider, with Accol...

Analysis

This announcement highlights a leadership change at a private behavioral health provider, with Accolade referenced as a former employer where the executive led more than $1 billion in M&A. For Accolade, the context underscores its role as a platform for experienced healthcare leadership rather than a direct corporate event. Investors may watch how sustained trading volume of 4491607 shares versus a 925333 average interacts with its position above the 4.77 200-day moving average.

Key Terms

annual recurring revenue, series c, equity and debt financing, mergers and acquisitions, +4 more

8 terms

annual recurring revenue financial

"During his tenure, he helped grow annual recurring revenue from approximately $17 million"

Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.

series c financial

"led the company's successful $20 million Series C equity and debt financing"

A Series C is a later-stage round of equity financing where outside investors provide substantial capital to a private company in exchange for ownership shares. It matters to investors because it signals the business has passed early development and is raising money to scale operations, enter new markets, or prepare for a sale or public listing; like swapping the engine for a bigger one to go faster, it affects valuation, ownership stake, and potential return or risk.

equity and debt financing financial

"led the company's successful $20 million Series C equity and debt financing"

Equity financing means a company raises money by selling ownership shares, which gives investors a stake in future profits and reduces existing owners’ percentage of control; debt financing means the company borrows money that must be repaid with interest over time, like a loan. Investors care because equity can boost growth without immediate cash outflow but dilutes ownership and profit claims, while debt preserves ownership but creates fixed repayment obligations that affect cash flow and risk.

mergers and acquisitions financial

"where he led strategic initiatives and sourced and executed more than $1 billion in mergers and acquisitions"

Mergers and acquisitions are processes where companies combine or one company purchases another to grow or improve their business. Think of it like two teams joining forces or one team buying out another to become stronger and more competitive. These activities matter to investors because they can influence a company's value, future growth, and overall market position.

schedule 13g/a regulatory

"This Schedule 13G/A discloses that The Goldman Sachs Group, Inc."

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial ownership regulatory

"report beneficial ownership of Accolade, Inc. common stock totaling 65 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

voting power regulatory

"no sole voting or dispositive power, shared voting power of 44"

Voting power is the ability shareholders have to influence a company's major decisions—like electing the board, approving mergers, or changing corporate rules—based on the voting rights attached to the shares they hold. For investors it matters because greater voting power is like holding more keys to a building: it gives you a stronger say over management choices and the company’s strategy, which can affect future value and risk.

dispositive power regulatory

"no sole voting or dispositive power, shared voting power of 44 and shared dispositive power of 65"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

AI-generated analysis. Not financial advice.

Experienced Healthcare Executive Joins Leadership Team to Support Continued Growth Backed by Fulcrum Equity Partners

JACKSON, Miss., March 9, 2026 /PRNewswire/ -- Defining Wellness Centers (www.definingwellness.com) today announced that veteran healthcare executive Bill Morrison has joined the organization as Chief Financial Officer. Morrison brings more than 25 years of experience helping scale healthcare and behavioral health companies and will oversee the company's financial strategy during a period of continued growth backed by Atlanta-based growth equity firm Fulcrum Equity Partners.

Morrison joins Defining Wellness at a time of continued expansion for the organization as it strengthens its leadership team and operational infrastructure to support long-term growth and evaluate additional opportunities to expand access to high-quality behavioral healthcare.

"Bill has spent his career helping healthcare organizations grow with discipline and clarity," said Drew Rothermel, CEO of Defining Wellness Centers. "We're entering an important phase of growth, and his experience building financial infrastructure and supporting strategic expansion will be incredibly valuable. Just as importantly, Bill understands the responsibility that comes with building healthcare organizations that serve patients and families. We're excited to welcome him to the team."

Most recently, Morrison served as Chief Financial Officer at Brave Health, a venture-backed virtual behavioral health provider focused on serving Medicaid populations. During his tenure, he helped grow annual recurring revenue from approximately $17 million to $40 million, reduced cash burn by 50 percent, and led the company's successful $20 million Series C equity and debt financing.

Earlier in his career, Morrison served as Senior Vice President of Strategy and Corporate Development at Accolade (NASDAQ: ACCD), where he led strategic initiatives and sourced and executed more than $1 billion in mergers and acquisitions. Morrison also continues to serve as a board advisor for Sero Mental Health and Constellation Behavioral Health, where he was previously Founder and CEO.

"I'm excited to join Defining Wellness at such an important stage in the company's growth," Morrison said. "The organization has built a strong reputation for delivering high-quality behavioral healthcare while maintaining a deeply patient-centered approach. I look forward to working with Drew and the leadership team to help support the company's continued expansion and long-term impact."

Morrison earned his MBA in Finance and Marketing from the Kellogg School of Management at Northwestern University and a Bachelor of Arts from Colgate University, graduating cum laude. He is based in Ketchum, Idaho.

About Defining Wellness Centers

Defining Wellness Centers is a behavioral health provider dedicated to helping individuals and families overcome substance use and co-occurring mental health disorders. Through evidence-based treatment, experienced clinical leadership, and a patient-centered philosophy, Defining Wellness delivers comprehensive care designed to support lasting recovery. The organization continues to expand its services and reach while maintaining a strong commitment to clinical excellence and long-term outcomes. Defining Wellness Centers is backed by growth equity firm Fulcrum Equity Partners.

Learn more at www.definingwellness.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/defining-wellness-centers-names-bill-morrison-chief-financial-officer-302707995.html

SOURCE Defining Wellness Centers

FAQ

Who is the new CFO of Defining Wellness Centers (ACCD) and when was he appointed?

Bill Morrison was named Chief Financial Officer on March 9, 2026. According to Defining Wellness Centers, Morrison joins with over 25 years of healthcare finance experience to support the company's expansion backed by Fulcrum Equity Partners.

What relevant experience does Bill Morrison bring to Defining Wellness Centers (ACCD)?

Morrison brings 25+ years of healthcare finance and scaling experience. According to Defining Wellness Centers, he grew Brave Health ARR from about $17M to $40M and cut cash burn by 50% while leading a $20M Series C financing.

How might the CFO appointment affect Defining Wellness Centers' growth plans (ACCD)?

The hire is intended to strengthen financial infrastructure and transaction capability. According to Defining Wellness Centers, Morrison will oversee financial strategy during a period of expansion backed by Fulcrum Equity Partners to support long-term growth.

What notable past roles has Bill Morrison held relevant to ACCD investors?

Morrison previously served as CFO at Brave Health and led strategy at Accolade (ACCD). According to Defining Wellness Centers, he also sourced and executed more than $1 billion in mergers and acquisitions during his Accolade tenure.

Does the press release mention any financing or operational metrics tied to Morrison's past performance?

Yes. According to Defining Wellness Centers, Morrison helped grow annual recurring revenue from ~$17M to $40M and reduced cash burn by 50%, plus he led a $20M Series C equity and debt financing at Brave Health.