CORAL GABLES, Fla., June 19 /PRNewswire-FirstCall/ --
Ramsay Youth Services, Inc. (Nasdaq: RYOU) ("Ramsay") announced that
stockholders of Ramsay approved the transaction with Psychiatric Solutions,
Inc. (Nasdaq: PSYS) ("PSI") at a special meeting of stockholders held today.
The PSI acquisition of Ramsay consists of $5.00 per share in cash for Ramsay's
common stock and the assumption of Ramsay's outstanding debt.
(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020731/RYOULOGO )
Ramsay and PSI previously announced the execution of a definitive
agreement on April 9, 2003. The transaction is expected to be completed by
the end of June 2003.
Ramsay Youth Services, Inc. is a leading provider and manager of mental
health, substance abuse and behavioral health programs and services in
residential and non-residential settings in eleven states and the Commonwealth
of 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.
The 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, specifically the Risk Factors section in the Company's Form 10K
for the year ended December 31, 2002.
SOURCE Ramsay Youth Services, Inc.
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Related links:
http://www.ramsay.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20020731/RYOULOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/116733.html
CONTACT:
Isa Diaz, Executive Vice President Corporate
Relations, +1-305-569-4626
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