Behavioral health provider LifeStance (NASDAQ: LFST) has announced Danish Qureshi will replace Gwen Booth as chief operating officer. Currently, Qureshi serves as the company’s chief growth officer, where he is responsible for organic growth initiatives for the company.
This news comes after Booth announced she will be retiring from the position on July 1. Booth will then move into a new role as executive director of LifeStance Health Foundation, a nonprofit organization dedicated to awarding grants, scholarships and support to improve mental health access.
“As a highly-experienced health care executive and founding member of the LifeStance team, Danish is well-positioned to successfully guide our business through its next phase of growth,” Michael Lester, chairman and CEO of LifeStance, said in a statement. “Danish has been instrumental in the success of our organic growth engine and the rapid scaling of our business since inception. He has an excellent track record delivering against our long-term strategic priorities, and we are confident that he will excel in this new role.”
Before coming to LifeStance, Qureshi served as SVP of strategic initiatives and COO of the post-acute division at Accelecare Wound Centers. Previously, Qureshi held roles at private equity firm Nautic Partners and Bain & Company.
Based in Scottsdale, Arizona, LifeStance was formed in 2015 after partnering with Summit Partners and Silversmith Capital Partners.
In 2017 the company launched as a behavioral health provider that is focused on outpatient care. It offers in-person and virtual services to adults and children. The company employs roughly 5,000 psychiatrists, advanced practice nurses, psychologists and therapists and operates in 32 states. LifeStance went public in June of 2021 and reached a valuation of $7.9 billion.
In Q1 of 2022, it added 199 new clinicians. The company has a total of 79 acquisitions as of its earnings call in April. It currently has a footprint of more than 500 centers.
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