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Article: Psychiatric Solutions Completes Purchase of Alternative Behavioral Services from FHC Health Systems.
- Article from:
- Business Wire
- Article date:
- December 4, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Completes Expansion of Senior Credit Facilities
FRANKLIN, Tenn. -- Psychiatric Solutions, Inc. ("PSI") (NASDAQ: PSYS) today announced that it has completed its previously announced purchase of Alternative Behavioral Services, Inc. ("ABS") for a cash purchase price of $210 million from FHC Health Systems, Inc. ABS, headquartered in Norfolk, Virginia, operates nine inpatient psychiatric facilities with approximately 1,050 beds in Virginia, South Carolina, Tennessee, Kentucky, Puerto Rico and the U.S. Virgin Islands.
PSI financed the transaction with proceeds from its amended and restated Senior Secured Credit Facilities, through which it expanded its ...