Psychiatric Solutions reported that the company's behavioral health hospitals generated operating income of $31.7 million in the quarter ended March 31, up 14.8% from the same period last year.
Psychiatric Solutions sees higher first-quarter results
The Franklin, Tenn.-based company, which has hospitals in 32 states, said in March that a special committee of its board of directors was considering a buyout bid from an unnamed suitor. No further information about the potential sale was disclosed in the first-quarter financial results.
Overall, revenue for the quarter increased 9.7% to $476 million from $433.9 million in the first quarter of 2009. Same-facility revenue, meanwhile, increased 7% as a result of a rise in patient days and a slight increase in revenue per patient day, the company reported.
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