CORAL GABLES, Fla., Dec. 7 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) announced today that its youth care division has been awarded a
contract by the Florida Department of Juvenile Justice to operate the Okaloosa
Youth Academy, a 100-bed residential treatment program for moderate-risk boys
ages 14 to 18 in Crestview, Florida. The contract was subject to competitive
bid by the Department and has a term of five years with a renewal provision
extending the contract for another five years. Payments under the contract
for the first five years will be $13 million.
Luis E. Lamela, Chief Executive Officer of Ramsay Health Care, Inc., said,
"We are very pleased to work with the Florida Department of Juvenile Justice
on this program. We feel fortunate as a company to be given the opportunity to
continue operating quality-driven residential treatment programs for the
State."
Ramsay Health Care, Inc. is a provider and manager of specialized
education and treatment services for at-risk and troubled youth. The Company
through its youth care division operates and manages residential treatment
facilities, group homes and services contracts in 8 states and Puerto Rico.
Ramsay's educational division manages a Charter School in Florida and provides
other specialized education programs.
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, Inc., 305-569-4626
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