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  • fullcount_1999 fullcount_1999 Dec 31, 1999 11:28 AM Flag


    I don't think that the large phyc. hospitals will
    be profitable, but there are a few companies (like
    CRN and KIDS) that have done a profitable/good job of
    combining behavorial health services on an outpatient and
    small residential basis as an outgrowth of their
    "regular" juvenile business.

    It was a guess that a
    company might be able to make a larger phyc hospital
    profitable is they were able to get the facility for cents
    on the dollar, but that's a guess. In the end, I
    don't think the private corrections companies should go
    after the large phyc hopsitals, but should focus on
    their core business, and simply supplement their
    corrections business with the outpatient/treatment behavorial
    health business.

    If I remember correctly, WHC
    acquired that phyc hospital back when they "needed some
    news", and that probably seemed like an "event" that
    could get the stock going at the time; however, the
    market did not react well to it back then for the above
    reasons (i.e. they shouldn't invest in the large capital
    and overhead of a large phyc hospital).

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