Pioneer Behavioral Health Secures Financing for its Internet Subsidiary; Funds Will Expand Services of BehavioralHealthOnline.com

OPEN MINDS On-Line News Pioneer Behavioral Health, a provider of inpatient and outpatient behavioral health services, announced July 10, 2000 that it has secured financing for its Internet subsidiary BehavioralHealthOnline.com, from its lead bank and an institutional investor. The goal of the financing is to successfully enable the Internet company to complete an initial public offering within the next 12 to 18 months, according to Bruce Shear, chief executive officer of Pioneer Behavioral Health. Initially, the financing is expected to be in excess of $2 million but will be better defined in the upcoming months, Mr. Shear said . . .