CORAL GABLES, Fla., Feb. 7 /PRNewswire/ -- Ramsay Youth Services, Inc.
(Nasdaq: RYOU) announced today that it has been awarded a contract by the
Florida Department of Juvenile Justice to operate a 100-bed residential
commitment program. The first phase of the contract is for a 50-bed female
program, which is scheduled to be operational by the end of March and will be
housed at a newly constructed Department facility in Palm Beach County,
Florida. The contract is for a term of 3 years and is expected to generate
over $2.2 million in annual revenue during phase one. The second phase of the
contract calls for the expansion of the program by an additional 50 beds, at a
future date to be determined by the Florida Department of Juvenile Justice.
Commenting on the new contract, Luis E. Lamela, President and CEO of
Ramsay Youth Services, Inc. stated, "We look forward to working with the
Florida Department of Juvenile Justice in creating a model program that
addresses the gender-specific needs of females. Our organization is committed
to serving Florida's juvenile population with quality programs and services."
Ramsay Youth Services, Inc. is a leading quality provider and manager of
education, treatment and juvenile justice programs for at-risk youth. The
Company serves youth in 8 states and Puerto Rico.
Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements as defined under the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties.
Actual operations and results may differ materially from those expected in the
forward-looking statements made by the Company. Please refer to Ramsay's
filings with the Securities and Exchange Commission for additional
information.
SOURCE Ramsay Youth Services, Inc.
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Related links:
http://www.ramsay.com
Company News On-Call:
http://www.prnewswire.com/comp/116733.html or fax,
800-758-5804, ext. 116733
CONTACT:
Isa Diaz, Vice President Corporate Relations,
Ramsay Youth Services, 305-569-4626
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