HORC Horizon Health Corp (MM)

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.