CORAL GABLES, Fla., April 21 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) and Ramsay Managed Care, Inc. (Nasdaq: RMCR) announced that, at
special meetings of stockholders held on April 18, 1997, the stockholders of
both companies approved the previously announced merger of Ramsay Managed Care
into Ramsay Health Care.
Closing of the merger will take place upon the earlier to occur, a
refinancing of debt or obtaining current lender consent. Ramsay Health Care
is continuing its refinancing efforts and its efforts to obtain lender
consent.
Ramsay Health Care, Inc. is a leading provider of behavioral health care
services, serving markets in 16 states. Ramsay Health Care, Inc. delivers a
comprehensive range of behavioral healthcare services through alternative
treatment sites including freestanding hospitals, juvenile residential
treatment units, and outpatient programs and clinics. Ramsay Health Care,
Inc. also manages behavioral healthcare programs on behalf of other hospitals
and community mental health centers.
Ramsay Managed Care, Inc. operates a long established business in the
management of mental health services and substance abuse programs on behalf of
self insured employers, health maintenance organizations (HMOs) and
governmental agencies in various states.
SOURCE Ramsay Health Care, Inc. and Ramsay Managed Care, Inc.
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CONTACT:
Bert Cibran, President & COO, Ramsay Health
Care and Ramsay Managed Care, 305-569-4621
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