HARTFORD, Conn.--(BUSINESS WIRE)-- Shepherd, Finkelman, Miller & Shah, LLP (“SFMS”) (http://www.sfmslaw.com) is investigating the agreement under which Universal Health Services (“Universal Health”) (NYSE: UHS) intends to acquire Psychiatric Solutions, Inc. (“Psychiatric Solutions”) (NYSE: PSYS). Psychiatric Solutions, based in Franklin, Tennessee, provides inpatient behavioral healthcare services in the United States. Universal Health, with headquarters in King of Prussia, Pennsylvania, operates acute care hospitals, behavioral healthcare facilities and ambulatory centers. The agreement, announced on May 17, 2010, would allow Universal Health to acquire Psychiatric Solutions for $33.75 per share, or approximately $2 billion in cash and would assume $1.1 billion in debt. SFMS’s investigation of the agreement concerns whether there was adequate disclosure to shareholders concerning the terms of the acquisition and whether the compensation offered to shareholders pursuant to the acquisition is adequate. The transaction is expected to be completed in the fourth quarter of 2010. The United States Department of Justice has opened an investigation into certain executive pay packages at Psychiatric Solutions, which were issued shortly before the announcement of the acquisition.
For more information about SFMS, or for additional information about this investigation, please contact Karen M. Leser-Grenon at [email protected] or toll-free at 866-540-5505, ext. 206 or Patrick A. Klingman at [email protected] or toll-free at 866-540-5505, ext. 205.
Shepherd, Finkelman, Miller & Shah, LLP (http://www.sfmslaw.com) is a law firm that represents consumers, fiduciaries, beneficiaries and investors, including institutions and individuals, in class action and other complex litigation, and maintains offices in California, Connecticut, Florida, New Jersey, Pennsylvania and Wisconsin. The firm’s attorneys have experience prosecuting cases on behalf of shareholders in mergers and acquisitions throughout the United States.
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CONTACT:
Shepherd, Finkelman, Miller & Shah LLP
Karen M. Leser-Grenon
866-540-5505 or 860-526-1100
[email protected] or [email protected]
KEYWORDS: United States North America Connecticut Pennsylvania Tennessee
INDUSTRY KEYWORDS: Health Hospitals Mental Health Other Health Professional Services Legal General Health
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