From the newsroom of the Nashville Business Journal, Nashville,
Tennessee, Wednesday, July 5, 2006 .....
Psychiatric Solutions continues 2006 acquisition streak Psychiatric
Solutions Inc. has completed the purchases of the National Deaf Academy
in Mount Dora, Fla. and Cedars Hospital in DeSoto, Texas. With the move,
the company has either completed or announced the purchase of 15
facilities since the year began.
The National Deaf Academy is an 84-bed residential treatment center
providing mental health care to deaf, hard of hearing and deaf-blind
children and adults. In 2005, the center produced revenues around $14.2
million.
Cedars Hospital, an inpatient psychiatric facility, operates 76 beds.
The hospital had $8.1 million in 2005 revenue. The acquisition gives the
company 10 facilities and about 1,300 inpatient beds in Texas.
The acquisitions announced or completed by Psychiatric Solutions since
the beginning of 2006 have added around 1,500 beds to the company's
holdings.
Franklin-based Psychiatric Solutions (NASDAQ: PSYS) operates 61
psychiatric inpatient facilities with over 6,600 beds in 27 states. It
also manages inpatient facilities for government agencies and
psychiatric inpatient units within medical/surgical hospitals owned by
others.
(c) 2006 American City Business Journals, Inc.
Steve Hamerdinger, Director
Office of Deaf Services
Alabama Department of Mental Health
and Mental Retardation
P.O. Box 301410
Montgomery, Alabama 36117
(334) 353-4701 (TTY)
(334) 242-3024 (FAX)
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