CORAL GABLES, Fla., Oct. 2 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI), closed its previously announced $60 million financing, the
proceeds of which are being used in part to refinance existing indebtedness.
Of the financing, $56 million was provided by GE Capital Services pursuant to
revolving credit, senior term debt, and subordinated bridge debt facilities
and the purchase of senior convertible preferred stock.  The remaining
$4 million was provided by a corporate affiliate of Paul J. Ramsay, the
Company's Chairman of the Board, through the purchase of preferred stock.
    Noting the completion of the financing, Paul J. Ramsay, Chairman of the
Board of Ramsay Health Care, Inc. commented, "We are very pleased to have
established a banking relationship with a financial institution of the caliber
of GE Capital and look forward to working with them as we continue our product
and revenue diversification efforts in the future."
    Ramsay Health Care, Inc. is a leading provider and manager of specialty
managed care and behavioral health services.  The Company through its youth
services division offers diversified programs for at-risk and troubled youth
in residential and non-residential settings nationwide.  In addition, the
Company's managed behavioral care division provides and manages the delivery
of behavioral healthcare services for employers, insurance companies, health
maintenance organizations and governmental agencies.  Ramsay Health Care, Inc.
also operates psychiatric hospitals and manages behavioral healthcare programs
on behalf of acute care hospitals and community mental health centers
throughout the United States.

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