LUNGevity Foundation and Acadia Healthcare each announced this week the addition of veteran investment banker Jason Bernhard to their respective boards, a move that underscores the growing influence of financial expertise in health care governance.

Bernhard, managing director and global chief operating officer of financial advisory at Lazard, brings nearly three decades of investment banking experience to LUNGevity Foundation. The nonprofit, which is dedicated to improving outcomes for people with lung cancer, said his strategic thinking and deep understanding of the health care sector will strengthen its capacity across research, care and advocacy. “We are thrilled to have Jason join the LUNGevity Board,” Andrea Ferris, president and CEO of LUNGevity Foundation, said in a statement. Ferris highlighted Bernhard’s “investment banking expertise combined with his deep knowledge in the health care industry and passion for impact” as especially valuable as the organization expands its reach. (LUNGevity media release: s)

Bernhard described his decision to join the LUNGevity board as both personal and professional. “LUNGevity is doing groundbreaking work that is changing what it means to be diagnosed with lung cancer, and I am honored to join LUNGevity’s Board of Directors to help accelerate the organization’s efforts to make lung cancer a survivable disease,” he said. The appointment adds a seasoned private-sector perspective to a board composed of leaders from business, medicine, law and advocacy.

At the same time, Bernhard has joined the board of Acadia Healthcare, further broadening his influence in health care corporate governance. The Franklin-based behavioral health services provider said the addition brings its board membership to eight directors. Acadia’s chairman, Reeve Waud, welcomed Bernhard and framed the appointment as a strategic asset: “Jason’s unique perspectives as one of the leading investment bankers in the health care industry and his tremendous business, financial and capital markets expertise will be highly valuable as we continue to pursue Acadia’s strategic priorities and drive long-term, sustainable shareholder value.”

Notably, Jason Bernhard, Acadia Healthcare and LUNGevity Foundation through simultaneous board additions, reflecting a trend in which both nonprofit and for-profit health organizations increasingly seek financial and operational acumen. Bernhard has been with Lazard for more than two decades and serves as chief operating officer for the firm’s Financial Advisory North America group, in addition to acting as head of health care investment banking for North America and a vice chairman of investment banking overall.

Bernhard’s election to Acadia’s board comes amid shareholder activity and strategic evaluation at the company. New York-based investment firm P2 Capital Partners disclosed a 7.3 percent stake in Acadia in recent months and signaled plans to engage with management on measures to maximize shareholder value. Separately, under CEO Debbie Osteen, Acadia has been weighing a possible divestiture of its roughly $1.1 billion United Kingdom operations acquired in 2016. Acadia shares (ticker: ACHC) closed recently at $32.97, with six-month performance showing a period of decline followed by partial recovery.

Across both appointments, Bernhard’s dual roles are likely to shape strategic conversations at an intersection of capital markets, operational execution and patient-centered priorities, reinforcing the increasing role of finance leaders in setting the course for health care institutions.