Federal Trade Commission Grants Early Termination of Waiting Period under U.S. Hart-Scott-Rodino Act for Acquisition of Horizon
25 Mai 2007 - 1:52PM
Business Wire
Horizon Health Corporation (NASDAQ: HORC) (�Horizon Health�) today
announced that it has been notified by the Federal Trade Commission
(�FTC�) that the FTC has granted early termination of the waiting
period imposed by the Hart-Scott-Rodino Antitrust Improvements Act
of 1976, in connection with the pending acquisition of Horizon
Health by Psychiatric Solutions, Inc. (�PSI�). As a result, Horizon
Health expects that the acquisition of Horizon Health by PSI will
be completed on May 31, 2007, subject to customary closing
conditions. About Horizon Health Horizon Health is an owner of
behavioral health facilities and a leading manager of clinical
services for acute care hospitals and employers. Horizon Health (i)
operates freestanding behavioral health hospitals providing
behavioral health care for children, adolescents and adults, (ii)
provides contract management services for behavioral health and
physical rehabilitation clinical programs offered by acute care
hospitals, and (iii) provides employee assistance programs to
employers. At February 28, 2007, Horizon Health owned/leased 15
behavioral health care facilities with approximately 1,571 licensed
beds in 11 states. Additionally, Horizon Health had 91 behavioral
health program management contracts and 23 physical rehabilitation
program management contracts with acute care hospitals located in
36 states; 101 CQI+ mental health outcomes measurement contracts;
and 847 contracts to provide employee assistance program services
covering in excess of 5.0 million lives. Forward-Looking Statements
This press release includes �forward-looking� statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that reflect Horizon Health�s current views as to future events.
These statements can be identified by the fact that they do not
relate strictly to historical or current facts. They use words such
as �expect,� �will be,� �intend,� �believe,� �look to� and other
words and terms of similar meaning in conjunction with a discussion
of future expectations. These statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements.
These factors include, but are not limited to, (1) the occurrence
of any event, change or other circumstances that could give rise to
the termination of the merger agreement; (2) the inability to
complete the merger due to the failure to satisfy one or more
conditions to the completion of the merger, including the receipt
of required regulatory approvals; (3) the failure by PSI to obtain
the necessary debt financing arrangements set forth in commitment
letters received in connection with the merger; and (4) other risks
that are set forth in the �Risk Factors� section and elsewhere in
Horizon Health�s SEC filings, copies of which may be obtained by
contacting Horizon Health�s investor relations department via its
website www.horizonhealth.com. Many of the factors that will
determine the outcome of the subject matter of this press release
are beyond Horizon Health�s ability to control or predict.
Forward-looking statements speak only as of the date made. Horizon
Health undertakes no obligation to update any forward-looking
statements, including prior forward-looking statements, to reflect
the events or circumstances arising after the date as of which they
were made. As a result of these risks and uncertainties, readers
are cautioned not to place undue reliance on any forward-looking
statements included herein or that may be made elsewhere from time
to time by, or on behalf of, Horizon Health.
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