EXHIBIT 99.1


[PSYCHIATRIC SOLUTIONS, INC. LOGO]

CONTACT:
Brent Turner
Vice President, Treasurer and
Investor Relations
(615) 312-5700

              PSYCHIATRIC SOLUTIONS CONSUMMATES ACQUISITION OF FIVE
                 PSYCHIATRIC FACILITIES FROM THE BROWN SCHOOLS

                                ---------------

    RECEIVES FIRST HALF OF PREVIOUSLY ANNOUNCED CONVERTIBLE PREFERRED STOCK
  PLACEMENT AND EXPANDS SENIOR CREDIT FACILITY WITH CAPITALSOURCE FINANCE LLC

FRANKLIN, TENN. (APRIL 1, 2003) - Psychiatric Solutions, Inc. ("PSI") (Nasdaq:
PSYS) today announced that it has consummated the previously announced
acquisition of five freestanding psychiatric facilities from The Brown Schools
and that it expects to complete the acquisition of the sixth facility later this
month. The Brown Schools' financial advisor in this transaction was Avondale
Partners, LLC. The $63 million cash acquisition of the six facilities, which
produced combined revenues of $76 million for 2002, brings a total of 792
inpatient beds to PSI, more than doubling its existing number of beds in
operation.

         PSI also today announced that, as scheduled, it has received the first
half of the net proceeds from the $25 million private placement of convertible
preferred stock that was announced earlier this year. The Company expects to
receive the second half of the net proceeds on July 1, 2003. In addition, PSI
has expanded its credit facility with its senior lender, CapitalSource Finance
LLC, through both an increase in its revolving credit facility to $28 million
from $17.5 million and through a new $36 million term loan. PSI's aggregate
senior credit facility with CapitalSource now exceeds $80 million.

         Joey Jacobs, Chairman, President and Chief Executive Officer of PSI,
commented, "We believe the transaction with The Brown Schools is further
evidence of the continuing opportunity we have to increase our market share in
the highly fragmented inpatient behavioral health services industry. To
accomplish this goal, we have worked closely with CapitalSource for our senior
debt needs, and we have successfully raised equity through a private placement
with sophisticated professional investors, Oak Investment Partners, Salix
Ventures and Brown Brothers Harriman. As a result, we remain well-positioned to
pursue additional acquisition opportunities, while continuing the organic growth
of our existing businesses."

         Dean Graham, Managing Director of Healthcare Finance at CapitalSource
further commented, "We are extremely pleased to have been able to assist PSI as
its lending partner to finalize this acquisition and to increase our commitment
with PSI to more than $80 million. We're


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PSYS Completes Acquisition
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April 1, 2003


confident PSI's strong management and enhanced liquidity will continue to drive
its business objectives."

         This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include statements other
than those made solely with respect to historical fact and are based on the
intent, belief or current expectations of PSI and its management. Such
forward-looking statements are not guarantees of future performance and involve
risks and uncertainties that may cause PSI's actual results to differ materially
from the results discussed in the forward-looking statements. Risks and
uncertainties that might cause such differences include, but are not limited to:
(1) potential competition which alters or impedes PSI's acquisition strategy by
decreasing PSI's ability to acquire additional facilities on favorable terms;
(2) the ability of PSI to improve the operations of acquired facilities; (3) the
ability to maintain favorable and continuing relationships with physicians who
use PSI's facilities; (4) the limited operating history of PSI; (5) the ability
to receive timely additional financing on terms acceptable to PSI to fund PSI's
acquisition strategy and capital expenditure needs; (6) risks inherent to the
healthcare industry, including the impact of unforeseen changes in regulation,
reimbursement rates from federal and state healthcare programs or managed care
companies and exposure to claims and legal actions by patients and others; and
(7) potential difficulties in integrating the operations of PSI with The Brown
Schools and other acquired facilities. The forward-looking statements herein are
qualified in their entirety by the risk factors set forth in PSI's filings with
the Securities and Exchange Commission, including the factors listed in its
Annual Report on Form 10-K for the year ended December 31, 2002 under the
caption "Risk Factors." PSI undertakes no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. Readers should not place undue reliance on forward-looking
statements, which reflect management's views only as of the date hereof.

         Psychiatric Solutions, Inc. offers an extensive continuum of behavioral
health programs to critically ill children, adolescents and adults through its
ownership and operation of freestanding psychiatric inpatient facilities and its
management of psychiatric units within general acute care hospitals. PSI
currently owns and operates 10 freestanding inpatient facilities and manages 49
psychiatric units.

ABOUT CAPITALSOURCE FINANCE LLC:

         Headquartered in Chevy Chase, MD, CapitalSource is a national
commercial finance company offering a range of financing solutions to
middle-market and small business clients. CapitalSource provides asset-based,
senior and mezzanine financing to small and mid-sized borrowers through three
focused lending units: Corporate Finance, Healthcare Finance, and Structured
Finance. CapitalSource has $2 Billion in commitments issued and more than 200
employees. For more information visit www.capitalsource.com or call toll free
866-876-8723.


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