Newsletter Articles | June 30, 1999
Cornell Corrections to Purchase Archway Programs
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
Cornell Companies, Inc., headquartered in Houston, Texas, announced on June 2, 1999, that it has entered into an asset purchase agreement to acquire substantially all of the assets of Archway Programs, Inc. and Archway Programs Delaware, Inc., both not-for- profit corporations, based in Camden, New Jersey. Archway now operates adolescent, juvenile, and adult treatment, and educational facilities in New Jersey and Delaware, generating annual revenues of approximately $19 million. The sales price for Archway has not been disclosed . . .