An acquisition that combines two prison healthcare services companies has been completed, with the newly formed company named Corizon, according to a news release.
Prison healthcare companies complete deal
St. Louis-based Valitas Health Services, parent company of Correctional Medical Services, acquired America Service Group, parent company of PHS Correctional Healthcare, for $250 million. Shareholders of America Service Group, Brentwood, Tenn., approved the deal on June 1, and the transaction was completed June 3, according to the release. America Service shareholders received $26 per share. The Federal Trade Commission cleared the deal of antitrust scrutiny last month.
Corizon is privately held, with corporate headquarters in Brentwood, and operational headquarters in St. Louis. Rich Hallworth, who was president and CEO of both America Service Group and PHS, is CEO of Corizon. The company name is a combination of correctional and horizon, according to its website, corizonhealth.com. The company provides healthcare services at more than 400 correctional facilities in 31 states.
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