CORAL GABLES, Fla., Nov. 25 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) announced today that its educational division, Ramsay
Educational Services, has signed a definitive agreement to acquire The Rader
Group, an educational company managing four contract/charter schools that
serve over 500 students annually in four counties throughout the State of
Florida. Completion of the transaction, which is subject to customary closing
conditions, is expected before year end.
Commenting on the transaction, Luis E. Lamela, Chief Executive Officer of
Ramsay Health Care, Inc., stated, "We are delighted in consummating this
relationship. The Rader Group brings extensive experience in establishing and
developing educational programs for youth with special needs and for those at-
risk of dropping out of school. In addition, they have a proven track record
in working successfully with at-risk and troubled youth."
Mr. Lamela added, "The Rader Group acquisition solidifies Ramsay's
educational services division, which currently manages the Milestones
Community Charter School in Florida. As an organization, we are committed to
continue developing our educational services because we feel it is the optimal
tool for prevention. We are also extremely pleased and honored to have Dr.
Bill Rader become the President of Ramsay's educational services division.
Dr. Rader, with 24 years of experience as an educator and administrator,
brings years of knowledge in serving the educational needs of at-risk youth."
Dr. Bill Rader, President of the Rader Group, said, "I am looking forward
to working with Ramsay in continuing our vision of developing programs that
assess a student's needs and ability levels, that individualizes education for
each student, and that focuses on curriculum that is meaningful and purposeful
to the students so that good life skills are learned and students become
productive, contributing citizens in the community."
Ramsay Health Care, Inc. is a provider and manager of specialized programs
and services for at-risk and troubled youth. The Company operates and manages
residential treatment facilities, group homes, schools and other specialized
treatment and educational youth programs in 9 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 Exchange Commission for additional information.
SOURCE Ramsay Health Care, 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,
Ramsay Health Care, 305-569-4626
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