CORAL GABLES, Fla., Nov. 2 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI), announced today that it had closed a $22 million financing
with Fleet Capital. $8.0 million of the financing has been used to refinance
all existing bank indebtedness. The additional financing will provide the
Company with a $8.0 million revolving credit line and a $6.0 million
acquisition line.
Commenting on the completion of the financing, Luis E. Lamela, Chief
Executive Officer of Ramsay Health Care, Inc., stated, "We are very pleased to
have established a banking relationship with a financial institution of the
caliber of Fleet Capital. We look forward to working with them as we continue
to grow the Company in the youth services arena."
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 treatment
centers, group homes and other specialized treatment and educational youth
programs in 9 states and Puerto Rico.
SOURCE Ramsay Health Care, Inc.
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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 Health Care, Inc., 305-569-4626
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