News Report | April 9, 2007
Horizon Health Corporation Shareholders Approve Merger With Psychiatric Solutions
April 9, 2007
Horizon Health Corporation Shareholders Approve Merger With Psychiatric Solutions 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 Horizons 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 . . .