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Psychiatric Solutions

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BUSINESS
November 16, 2010 | By Stacey Burling, Inquirer Staff Writer
Universal Health Services Inc., in King of Prussia, closed its $3.1 billion deal to buy rival Psychiatric Solutions Inc. on Monday. Universal Health Services said the purchase would make it a $7 billion company and the country's largest owner of freestanding inpatient psychiatric facilities. PSI is based in Franklin, Tenn. In a news release, Alan B. Miller, chief executive officer and chairman of UHS, called the deal "transformative" and said it "establishes an industry leader with the scale and scope to impact mental health issues at the national level.
BUSINESS
May 3, 2012 | Inquirer Staff Report
Universal Health Services Inc., of King of Prussia, and its subsidiary Psychiatric Solutions Inc. agreed to pay $3.45 million to settle allegations of Medicare fraud at a California psychiatric facility before UHS purchased it. The alleged fraud, involving the failure of BHC Sierra Vista Hospital Inc. to provide all the services required under a certain Medicare program, occurred between January 2003 and September 2009. UHS's purchased Psychiatric Solutions in November 2010. The Sacramento hospital denied wrongdoing.
BUSINESS
May 18, 2010 | By Stacey Burling, Inquirer Staff Writer
In a $3.1 billion deal, Universal Health Services Inc., which is based in King of Prussia, is buying rival Psychiatric Solutions Inc., creating what it says is the nation's largest network of freestanding inpatient psychiatric facilities. "We believe this is a truly transformative transaction," Steve Filton, senior vice president and chief financial officer for UHS, said during a conference call with analysts Monday. The hospital management company had boosted its offer after private-equity firm Bain Capital L.L.C.
NEWS
October 25, 2010
A Philadelphia in-patient facilty operated by Psychiatric Solutions Inc., Franklin, Tenn., received a subpoena last week from the U.S. Department of Justice requesting documents, the company said today in a report filed with the Securities and Exchange Commission. Psychiatric Sokutions did not say what kind of documents were requested or name the facility, but it said it would comply. The company owns Friends Hospital in Philadelphia, Brooke Glen Behavioral Hospital in Fort Washington and Summit Oaks Hospital in Summit, N.J. The company agreed to be purchased by King of Prussia-based Universal Health Services, Inc. in May.    -Stacey Burling
BUSINESS
May 18, 2010 | By Stacey Burling INQUIRER STAFF WRITER
In a $3.1 billion deal, Universal Health Services Inc., which is based in King of Prussia, is buying rival Psychiatric Solutions Inc., creating what it says is the nation's largest network of freestanding inpatient psychiatric facilities. "We believe this is a truly transformative transaction," Steve Filton, senior vice president and chief financial officer for UHS, said during a conference call with analysts Monday. The hospital management company had boosted its offer after private-equity firm Bain Capital L.L.C.
NEWS
June 23, 2009 | By Tom Avril INQUIRER STAFF WRITER
Friends Hospital, the historic psychiatric treatment center in Northeast Philadelphia, has replaced its chief executive officer after state and city regulators accused the facility of inadequate oversight of patients, including one who committed suicide. The officials' concerns focused on the hospital's "crisis response center" - the equivalent of an emergency room - where the patient committed suicide in April. Separately, Delaware County stopped referring patients to the inpatient unit at Friends because of the suicide, general security concerns, and "allegations of inappropriate sexual behavior," a county official said.
NEWS
May 27, 2011 | By Stacey Burling, Inquirer Staff Writer
People who care for the mentally ill have long complained that it's a tough way to make a living. But Universal Health Services Inc., a hospital chain based in King of Prussia, has turned inpatient behavioral health into a profit center. It reported an operating margin in the first quarter of this year of 26.3 percent for its psychiatric hospitals. UHS likes the behavioral-health business so much that it bought rival Psychiatric Solutions Inc. last year and nearly doubled its psychiatric facilities.
NEWS
September 4, 2009 | By Tom Avril INQUIRER STAFF WRITER
Friends Hospital, the historic but embattled psychiatric hospital in Northeast Philadelphia, has hired a new chief executive officer with Philadelphia roots, and experience as both a clinician and administrator. Kenneth Glass, 44, comes to Friends from the North Philadelphia Health System, where he was senior vice president of behavioral medicine. The system consists of two small facilities, Girard Medical Center and St. Joseph's Hospital, in North Philadelphia. Friends is regrouping after allegations from city, county, and state officials that it at times provided insufficient oversight of patients, including in April, when a patient committed suicide.
NEWS
August 12, 2010 | By Tom Avril, Inquirer Staff Writer
Friends Hospital said Wednesday that it had been restored as a network provider by the company that manages most mental health care for low-income suburban patients, having allayed concerns about staffing levels. A spokeswoman for Magellan Health Services confirmed that Friends, the psychiatric hospital in Northeast Philadelphia, was back in its network as of Monday for patients in Bucks, Montgomery, and Delaware Counties, though she declined to say why. Friends was dropped from the Magellan network on June 18 after allegations of overcrowding, but successfully appealed that decision by demonstrating that the concern was unfounded, hospital chief executive officer Ken Glass said.
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ARTICLES BY DATE
BUSINESS
May 3, 2012 | Inquirer Staff Report
Universal Health Services Inc., of King of Prussia, and its subsidiary Psychiatric Solutions Inc. agreed to pay $3.45 million to settle allegations of Medicare fraud at a California psychiatric facility before UHS purchased it. The alleged fraud, involving the failure of BHC Sierra Vista Hospital Inc. to provide all the services required under a certain Medicare program, occurred between January 2003 and September 2009. UHS's purchased Psychiatric Solutions in November 2010. The Sacramento hospital denied wrongdoing.
NEWS
May 27, 2011 | By Stacey Burling, Inquirer Staff Writer
People who care for the mentally ill have long complained that it's a tough way to make a living. But Universal Health Services Inc., a hospital chain based in King of Prussia, has turned inpatient behavioral health into a profit center. It reported an operating margin in the first quarter of this year of 26.3 percent for its psychiatric hospitals. UHS likes the behavioral-health business so much that it bought rival Psychiatric Solutions Inc. last year and nearly doubled its psychiatric facilities.
BUSINESS
November 16, 2010 | By Stacey Burling, Inquirer Staff Writer
Universal Health Services Inc., in King of Prussia, closed its $3.1 billion deal to buy rival Psychiatric Solutions Inc. on Monday. Universal Health Services said the purchase would make it a $7 billion company and the country's largest owner of freestanding inpatient psychiatric facilities. PSI is based in Franklin, Tenn. In a news release, Alan B. Miller, chief executive officer and chairman of UHS, called the deal "transformative" and said it "establishes an industry leader with the scale and scope to impact mental health issues at the national level.
NEWS
October 25, 2010
A Philadelphia in-patient facilty operated by Psychiatric Solutions Inc., Franklin, Tenn., received a subpoena last week from the U.S. Department of Justice requesting documents, the company said today in a report filed with the Securities and Exchange Commission. Psychiatric Sokutions did not say what kind of documents were requested or name the facility, but it said it would comply. The company owns Friends Hospital in Philadelphia, Brooke Glen Behavioral Hospital in Fort Washington and Summit Oaks Hospital in Summit, N.J. The company agreed to be purchased by King of Prussia-based Universal Health Services, Inc. in May.    -Stacey Burling
NEWS
August 12, 2010 | By Tom Avril, Inquirer Staff Writer
Friends Hospital said Wednesday that it had been restored as a network provider by the company that manages most mental health care for low-income suburban patients, having allayed concerns about staffing levels. A spokeswoman for Magellan Health Services confirmed that Friends, the psychiatric hospital in Northeast Philadelphia, was back in its network as of Monday for patients in Bucks, Montgomery, and Delaware Counties, though she declined to say why. Friends was dropped from the Magellan network on June 18 after allegations of overcrowding, but successfully appealed that decision by demonstrating that the concern was unfounded, hospital chief executive officer Ken Glass said.
NEWS
July 22, 2010 | By Tom Avril, Inquirer Staff Writer
Friends Hospital, a 197-year-old psychiatric facility in Northeast Philadelphia, has been dropped as a network provider by the company that manages mental health care for low-income patients in Bucks, Montgomery, and Delaware Counties. Magellan Health Services would not say why it made the move - effective June 18 - but a Delaware County official said it came after a whistleblower alleged that staffing levels were inadequate at Friends. The hospital denied the allegations and said it planned to "vigorously appeal" the decision with the company this month.
BUSINESS
May 18, 2010 | By Stacey Burling INQUIRER STAFF WRITER
In a $3.1 billion deal, Universal Health Services Inc., which is based in King of Prussia, is buying rival Psychiatric Solutions Inc., creating what it says is the nation's largest network of freestanding inpatient psychiatric facilities. "We believe this is a truly transformative transaction," Steve Filton, senior vice president and chief financial officer for UHS, said during a conference call with analysts Monday. The hospital management company had boosted its offer after private-equity firm Bain Capital L.L.C.
BUSINESS
May 18, 2010 | By Stacey Burling, Inquirer Staff Writer
In a $3.1 billion deal, Universal Health Services Inc., which is based in King of Prussia, is buying rival Psychiatric Solutions Inc., creating what it says is the nation's largest network of freestanding inpatient psychiatric facilities. "We believe this is a truly transformative transaction," Steve Filton, senior vice president and chief financial officer for UHS, said during a conference call with analysts Monday. The hospital management company had boosted its offer after private-equity firm Bain Capital L.L.C.
NEWS
September 4, 2009 | By Tom Avril INQUIRER STAFF WRITER
Friends Hospital, the historic but embattled psychiatric hospital in Northeast Philadelphia, has hired a new chief executive officer with Philadelphia roots, and experience as both a clinician and administrator. Kenneth Glass, 44, comes to Friends from the North Philadelphia Health System, where he was senior vice president of behavioral medicine. The system consists of two small facilities, Girard Medical Center and St. Joseph's Hospital, in North Philadelphia. Friends is regrouping after allegations from city, county, and state officials that it at times provided insufficient oversight of patients, including in April, when a patient committed suicide.
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