Mental Health Weekly Digest
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Business and Finance
Psychiatric Solutions completes purchase of inpatient psychiatric facilities
June 28th, 2004
Psychiatric Solutions, Inc., (PSI) has completed the purchase of four inpatient psychiatric facilities with 360 beds from Heartland Healthcare. In addition, PSI acquired a contract from Heartland to manage an inpatient psychiatric unit in a facility owned by others. The acquired assets produced revenues of approximately $45 million in 2003. In 2004, PSI has announced the addition of 940 beds through acquisition and internal development to its base of more than 2,800 beds at the end of 2003. As a result of this transaction, PSI raised its guidance for 2004 earnings per diluted share to a range of $1.08 to $1.13, from the previous range of $1.00 to...
Source: Mental Health Weekly Digest (2004-06-28)
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