Horizon Health stockholders approve merger with Psychiatric Solutions

By Lisa Kerner

Charlotte, N.C., March 28 - Horizon Health Corp. stockholders voted at a special meeting Wednesday to adopt the merger agreement with Psychiatric Solutions, Inc.

Under the agreement, Psychiatric Solutions will acquire Horizon Health for $20.00 per share in a cash transaction valued at about $426 million, including debt.

While the transaction is subject to regulatory approvals, including an extended waiting period under the Hart-Scott-Rodino act, it is expected to close in the second quarter of 2007.

The companies announced the merger agreement on Jan. 22.

Psychiatric Solutions, located in Franklin, Tenn., offers behavioral health programs through freestanding psychiatric inpatient facilities.

Lewisville, Texas-based Horizon Health owns behavioral health facilities and manages clinical services for acute care hospitals and employers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.