CORAL GABLES, Fla., Oct. 18 /PRNewswire/ -- Ramsay Youth Services, Inc.
(Nasdaq: RYOU) announced today the opening of the Okaloosa Youth Academy, a
100-bed residential treatment program for moderate-risk boys ages 14 to 18 in
Crestview, Florida. Ramsay operates the Okaloosa Youth Academy under contract
with the Florida Department of Juvenile Justice. The contract has a term of
five years with a renewal provision for another five years. This contract is
expected to generate $2.7 million in annual revenue.
Luis E. Lamela, President and CEO of Ramsay Youth Services, Inc., said,
"We are very pleased that the Okaloosa Youth Academy is now operational. This
moderate-risk program is designed for youth who require close supervision and
residential treatment. Most of the boys will stay in the program from 6 to 9
months."
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
of Ramsay Youth Services, Inc., 305-569-4626
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