CORAL GABLES, Fla., May 25 /PRNewswire/ -- Ramsay Youth Services, Inc.
(Nasdaq: RYOU) announced today that it has been awarded a contract by the
Administration of Juvenile Institutions in Puerto Rico to operate and manage a
120-bed detention center in Bayamon, Puerto Rico. The five year contract,
which was awarded through a formal bid process, is expected to generate over
$5 million in annual revenue.
The detention center's primary mission is to offer care, custody and
services to juveniles awaiting court processing and transfer to a residential
treatment center, day treatment program or group home. Operations are
expected to begin in the detention center by the second half of 1999.
Luis E. Lamela, President and CEO of Ramsay Youth Services, Inc. said, "We
look forward to working very closely with the Administration of Juvenile
Institutions in Puerto Rico on this program. We will provide for the
juveniles in the Bayamon Detention Center a wide variety of education and
treatment services."
Ramsay Youth Services, Inc. is a leading provider and manager of education
and treatment services for at-risk and troubled youth. The Company serves
over 2,300 youth through schools, residential treatment facilities, group
homes and service contracts 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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