Psychiatric Solutions to buy Ardent Health’s behavioral division
FRANKLIN, Tenn. – Psychiatric Solutions Inc. (Nasdaq: PSYS) of Franklin says it has entered an agreement to purchase 20 inpatient psychiatric facilities for $560 million from Nashville, Tenn.-based Ardent Health Services.
The 20 facilities, which have a total of about 2,000 inpatient beds, produced about $300 million in revenues in 2004.
The transaction is scheduled to close in the second quarter of this year. At that time, Psychiatric Solutions Inc. (PSI) will have about 6,000 beds in 54 owned or leased freestanding psychiatric inpatient facilities in 27 states. PSI provides behavioral health programs to critically ill children, adolescents and adults.
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