Horizon Health Corporation Shareholders Approve Merger With Psychiatric Solutions

OPEN MINDS, The Behavioral Health & Social Service Industry Analyst Industry News On March 28, 2007, Horizon Health Corporation (Horizon) announced that its stockholders voted to adopt a merger agreement with Psychiatric Solutions, Inc., (PSI). The merger is valued at about $426 million. PSI will assume about $105 million of Horizon’s debt. Horizon shareholders will receive $20 for each share. The merger will bring PSI more than 1,500 beds located in 15 inpatient psychiatric facilities in 11 states. The merger is expected to close during the second quarter of 2007. In a February 16, 2007 presentation to analysts . . .