OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
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 HORCs 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 HORCs 15 inpatient psychiatric facilities . . .
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