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Article: Psychiatric Solutions Finalizes Sale of EAP Business to Aetna.
- Article from:
- Health & Beauty Close-Up
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. 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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Psychiatric Solutions, Inc. has announced that it has completed the sale of its employee assistance program ("EAP") business to Aetna for approximately $70 million in cash.
PSI said that it intends to use the net proceeds from the sale to reduce its debt.
"Through this transaction, we have incrementally streamlined our operations and enhanced our focus on our core services of inpatient behavioral health," said Joey Jacobs, Chairman, President and Chief Executive Officer of PSI. "In applying the ...
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