9d nls non-lined diagnostic system

9d nls non-lined diagnostic system

progressions Health Systems makes announcement

FORT WASHINGTON, Pa.–(BUSINESS WIRE)–July 12, 1996– Progressions Health Systems Inc. (NASDAQ: PGHS) announced today that it entered into a definitive agreement and plan of merger with Eugenia Hospital, based in Lafayette Hill, Pa, providing for Eugenia’s acquisition of Progressions through 9d nls non-lined diagnostic system a merger in which, subject to the terms and conditions of the agreement, Progressions’ shareholders would be entitled to receive cash consideration of approximately $0.108 per share.

Progressions’ senior secured lender has approved the transaction which will result in the satisfaction 9d nls non-lined diagnostic system of Progressions’ debt to that lender. The transaction is conditioned 9d nls non-lined diagnostic system upon, among other things, approval by holders of a majority of the outstanding shares of 9d nls non-lined diagnostic system common stock, and the availability to Eugenia of sufficient financing to consummate the transaction, as well as the effective completion of due diligence and certain

9d nls non-lined diagnostic system

other customary closing 9d nls non-lined diagnostic system conditions. To enable Progressions’ stockholders to consider and vote upon the merger, Progressions’ board of directors has called a special meeting of stockholders, scheduled to be held on August 13. Only shareholders of record as of the close of business on July 15 will be entitled to vote at the meeting.

Upon completion of the transaction, the new health system will consist of the Northwestern Institute, a 146 bed-psychiatric hospital in Fort Washington, Malvern Institute, a 40 bed drug and alcohol residential treatment facility in Malvern, Pa, Pinelands, a 38 bed psychiatric hospital in Nacagdoches, Texas, Brookside Manor, a 47 bed residential facility for older adults in New Jersey, 10 outpatient centers, and Psychiatric Care Associates, a large multidisciplinary provider network serving Pennsylvania, Connecticut, and Rhode Island. The Eugenia Hospital currently owns and operates a 136 bed facility in Lafayette Hills and manages the Huntington hospital,

9d nls non-lined diagnostic system

a 44 bed non-profit facility in Willow Grove, Pa, 4 outpatient centers in Delaware Valley, and Interpsych Inc, a managed care organization located in King of Prussia, with offices in Reading, Allentown and New Jersey.

The union of the two health care organizations creates a system that extends geographically from Allentown, Pa. The joint systems provide a full continuum of mental health services which includes outpatient services, partial hospital programs, residential treatment programs and inpatient treatment programs. This system will combine the historical strengths of the Eugenia Hospital with those of the Progressions Health System in providing care for subscribers of managed care plans as well as traditional indemnity insurance. “Combining the strengths of Eugenia with those of Progressions will make it possible to allocate resources to developing new programs in existing sites and to prepare the new system to compete successfully in an expanding managed care environment, said Dr. Tenaglia added that, “We intend to continue to seek out additional partners as we develop the new system into a leading provider of mental health services, 9d nls non-lined diagnostic system.