Outpatient mental health provider Nystrom & Associates named Mark Peterson its new CEO.

He succeeds Mark Arnold as the top executive of the Minneapolis-based company. Arnold has been CEO since May 2020. The company employs over 1,000 providers and operates 50 locations in Minnesota, Iowa and Wisconsin.

It will soon expand into North Dakota, according to a news release.

“Mark’s commitment to investing in the people of the organization and making Nystrom the employer of choice has been evident since he joined the board,” John Figueroa, a Nystrom & Associates board member, said in the release. “He is a compassionate leader with experience running a high-touch and impactful healthcare organization.”

Peterson led Genoa Healthcare, an institutional pharmacy provider, as a C-suite leader for nearly 20 years. He was chief commercial officer for 15 years and CEO for three years.

Peterson was chairman of the Nystrom & Associates board of directors before taking the CEO role.

“With more than 20 years of experience in behavioral health and an ongoing dedication to the Nystrom organization, we are excited that Mark will lead the company in its next chapter of growth and expansion,” Brian Nystrom, founder and board member of Nystrom & Associates, said in the news release.

Rhode Island-based private equity firm Nautic Partners LLC acquired Nystrom & Associates in June 2019. Nautic previously invested in health providers Genoa Healthcare and Odyssey Behavioral Healthcare. Nautic Partners has an active investment in Pyramid Healthcare, according to its website. 

Behavioral Health Business has tracked a handful of changes in top executive spots at major organizations. Talkspace Inc. (Nasdaq: TALK) made Dr. Jon Cohen its new CEO on Nov. 8. Summit BHC, one of the largest addiction treatment providers in the U.S., named Todd Wyatt its CFO.

Summit, along with Acadia Healthcare Co. Inc. (NASDAQ: ACHC), named new chief information officers.