Mental Health Weekly Digest
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Psychiatry
Psychiatric Solutions Completes Acquisition of Horizon Health Corporation
June 18th, 2007
Psychiatric Solutions, Inc. ("PSI") (NASDAQ: PSYS) announced that it has completed the acquisition of Horizon Health Corporation in a transaction valued at $426 million. The purchase price consisted of cash of $20 per share totaling $321 million and the repayment or assumption of Horizon's outstanding debt. Horizon produced revenue of $297 million for the 12 month period ended February 28, 2007, primarily through the operation of 15 owned or leased inpatient behavioral health facilities with approximately 1,600 beds in 11 states. PSI financed the transaction and the cash tender of the 10.625% Senior Subordinated Notes due 2013 with an additional $225 million of...
Source: Mental Health Weekly Digest (2007-06-18)
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