Charter Medical Responds to Financial Problems

OPEN MINDS The Behavioral Health & Social Service Industry Analyst Industry News Charter Medical Corporation of Macon, Georgia has been suffering from an announced $35 million special charge to earning that was the result of accounting irregularities and an ensuing investigation for Medicare and Medicaid fraud. As a result, the company has announced plans to close 25 outpatient counseling centers and lay off 600 employees across the country. (The company has 20,000 employees at 300 counseling centers, 86 psychiatric hospitals, and 13 general hospitals) The company is also considering proposals for the $100 million sale and leaseback of several . . .