CORAL GABLES, Fla., March 31 /PRNewswire/ -- Ramsay Health Care, Inc.
(Nasdaq: RHCI) and Ramsay Managed Care, Inc. (Nasdaq: RMCR) announced today
that they will each hold a special meeting of stockholders on April 18, 1997
for the purpose of obtaining stockholder approval of their previously
announced merger. The companies stated that they each had established
February 28, 1997 as the record date for determining the stockholders entitled
to vote at the special meetings. Proxy materials were mailed to stockholders
of record on March 27, 1997.
The companies also stated that corporate affiliates of Paul J. Ramsay, the
Chairman of the Board of each of the companies, holding shares of capital
stock representing approximately 69 percent of the outstanding shares of
Ramsay Managed Care, Inc. and approximately 34.5 percent of the outstanding
shares in Ramsay Health Care, Inc. have indicated they will vote in favor of
the merger.
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.; Ramsay Managed Care, Inc.
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CONTACT:
Bert Cibran, President & COO of Ramsay Health
Care, Inc. and Ramsay Managed Care, Inc., 305-569-4621
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