OPEN MINDS The Behavioral Health & Social Service Industry Analyst Industry News On January 15, 1997, Columbia/HCA Healthcare Corporation, Nashville, Tennessee, and Value Health, Inc., Avon, Connecticut, announced their plans to merge. The $1.3 billion transaction is expected to be completed in mid-1997. Under the proposed merger, Columbia will absorb Value Health's four business units: Value Behavioral Health, the nation's largest provider of managed behavioral health, which has more than 20 million members in private and public sector companies . . .