CORAL GABLES, Fla., June 5 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) today announced the sale of the Company's Greenbrier
Psychiatric Hospital in Covington, Louisiana. As previously announced on
April 3, 1998, this facility was scheduled to close on June 2, 1998. The
purchase price for the Hospital was $1.6 million in cash, with the proceeds
used by the Company to repay outstanding indebtedness.
Luis E. Lamela, Chief Executive Officer of Ramsay Health Care, Inc. said,
"We continue to move forward with our new youth services strategy. The
execution of this transaction is an important component of the Company's non-
youth services business divestiture plan."
Ramsay Health Care, Inc. is a provider and manager of specialized programs
and services for at-risk and troubled youth. The Company through its
subsidiary, Ramsay Youth Services, Inc., operates residential youth
facilities, group homes and a juvenile assignment center. Ramsay Health Care,
Inc. also operates psychiatric facilities and manages the delivery of
behavioral health care programs on behalf of acute care hospitals and
community mental health centers.
SOURCE Ramsay Health Care, Inc.
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fax, 800-758-5804, extension 116733
CONTACT:
Isa Diaz, Vice President, Corporate
Relations, Ramsay Health Care, Inc., 305-569-4626
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