Psychiatric Solutions to Acquire Horizon Health Corporation for $426 Million

January 1, 2007 Psychiatric Solutions to Acquire Horizon Health Corporation for $426 Million On December 21, 2006, Horizon Health Corporation (HORC) and Psychiatric Solutions, Inc. (PSI) announced a $426 million merger agreement. Under the terms of the definitive agreement, PSI will purchase HORC for $20 in cash per share, totaling $321 million, and will assume $105 million of HORC’s outstanding debt. The merger will enable PSI to expand its behavioral health business by more than 1,500 beds in 11 states through the addition of HORC’s 15 inpatient psychiatric facilities. The following assets are also included in the . . .