Horizon Health to Enter Joint Venture with Friends Hospital ofPhiladelphia (Pennsylvania)

May 9, 2005 Horizon Health to Enter Joint Venture with Friends Hospital of Philadelphia (Pennsylvania) On April 22, 2005, Horizon Health Corporation announced that it has signed a definitive agreement to form a joint venture with Friends Hospital and acquire the Friends Hospital facility located in Philadelphia (Pennsylvania). Under the agreement, Horizon will contribute $16 million to the joint venture, called the Friends Behavioral Health System, and own 80% of the hospital. The current Friends Hospital ownership entity will own the remaining 20%. The deal also calls for allocating approximately ten million dollars for a charitable community benefit foundation, known . . .