The Texas facilities are in Austin, San Marcos and San Antonio. The others are in Charlottesville, CA, Colorado Springs, CO and Tulsa, OK. The sale is expected to close by March 31.
The deal will more than double the number of beds Franklin, TN-based Psychiatric Solutions operates. In the past 18 months, the company has purchased five other psychiatric hospitals. The company says its increases revenues at acquired properties by introducing new programs, recruiting more inpatients psychiatrists and increasing marketing.
The sale marks the exit of the Brown Schools from the behavioral health-care business. It will concentrate on providing educational services. The company grew out of a facility for troubled youths started in San Marcos, TX by Bert Brown and his wife in 1940.
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