Psychiatric Solutions and The Brown Schools announce $63 million cash deal

Psychiatric Solutions (PSYS) said after the close of trading Thursday that it will pay $63 million in cash for six psychiatric facilities from Nashville's The Brown Schools. The transaction, which is expected to close by March 31, will more than double Psychiatric Solution's present 701 beds.

The six facilities include three inpatient hospitals and three residential treatment centers. They include a total of 790 beds and generated last year revenue of $76 million.