-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ny3LFo9lSdtmDL2hYit8HBtGyMhKRDACCeqtyjIVu67BN5IaHNAbrxSJzHBdbW1S MOEd2PnTjzsxMIah9O0FBw== 0000950144-04-011288.txt : 20041116 0000950144-04-011288.hdr.sgml : 20041116 20041116172924 ACCESSION NUMBER: 0000950144-04-011288 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041116 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041116 DATE AS OF CHANGE: 20041116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PSYCHIATRIC SOLUTIONS INC CENTRAL INDEX KEY: 0000829608 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SPECIALTY OUTPATIENT FACILITIES, NEC [8093] IRS NUMBER: 232491707 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20488 FILM NUMBER: 041150382 BUSINESS ADDRESS: STREET 1: 113 SEABOARD LANE STREET 2: SUITE C-100 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 615-312-5700 MAIL ADDRESS: STREET 1: 113 SEABOARD LANE STREET 2: SUITE C-100 CITY: FRANKLIN STATE: TN ZIP: 37067 FORMER COMPANY: FORMER CONFORMED NAME: PMR CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ZARON CAPITAL INC DATE OF NAME CHANGE: 19891116 8-K 1 g92000e8vk.htm PSYCHIATRIC SOLUTIONS, INC. - FORM 8-K PSYCHIATRIC SOLUTIONS, INC. - FORM 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________________________

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): November 16, 2004 (November 16, 2004)

Psychiatric Solutions, Inc.

(Exact Name of Registrant as Specified in Its Charter)
         
Delaware   0-20488   23-2491707
(State or Other Jurisdiction of   (Commission File Number)   (IRS Employer
Incorporation)       Identification No.)

840 Crescent Centre Drive, Suite 460, Franklin, Tennessee 37067
(Address of Principal Executive Offices)

(615) 312-5700
(Registrant’s Telephone Number, including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

TABLE OF CONTENTS

Item 7.01 Regulation FD Disclosure.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
INDEX TO EXHIBITS
EX-99.1 PRESS RELEASE 11/16/04

Table of Contents

Item 7.01 Regulation FD Disclosure.

     On November 16, 2004, Psychiatric Solutions, Inc. (the “Company”) issued a press release updating the Company’s earnings guidance for 2005. The Company updated its earnings guidance to reflect the expected impact of the final rule released on November 3, 2004 by the Centers for Medicare and Medicaid Services establishing a per diem prospective payment system for inpatient psychiatric facilities. The press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

     (a) Financial statements of businesses acquired.

           None required

     (b) Pro forma financial information.

           None required

     (c) Exhibits.

     
99.1
  Press Release of Psychiatric Solutions, Inc., dated November 16, 2004 (furnished and not filed herewith pursuant to Item 7.01).

 

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  PSYCHIATRIC SOLUTIONS, INC.
 		  
  By:   /s/ Brent Turner    
    Brent Turner   
    Vice President, Treasurer and Investor Relations   
 

Date: November 16, 2004

 

Table of Contents

INDEX TO EXHIBITS

     
Exhibit Number
   Description of Exhibits
99.1
  Press Release of Psychiatric Solutions, Inc., dated November 16, 2004 (furnished and not filed herewith pursuant to Item 7.01).

 

EX-99.1 2 g92000exv99w1.txt EX-99.1 PRESS RELEASE 11/16/04 EXHIBIT 99.1 PSYCHIATRIC SOLUTIONS, INC. (PSI LOGO) CONTACT: Brent Turner Vice President, Treasurer and Investor Relations (615) 312-5700 PSYCHIATRIC SOLUTIONS INCREASES GUIDANCE FOR 2005 TO REFLECT IMPACT OF CMS PROSPECTIVE PAYMENT SYSTEM ----------------- 2005 EARNINGS PER DILUTED SHARE NOW EXPECTED IN RANGE OF $1.43 TO $1.50 FRANKLIN, Tenn. (November 16, 2004) - Psychiatric Solutions, Inc. ("PSI") (Nasdaq: PSYS) today announced that it has increased its earnings guidance for 2005 to a range of $1.43 to $1.50 per diluted share from the previous range of $1.35 to $1.40 per diluted share. This increase reflects the expected positive impact of the final rule released on November 3, 2004, by the Centers for Medicare and Medicaid Services ("CMS") establishing a per diem prospective payment system ("PPS") for inpatient psychiatric facilities, which was required by the Balanced Budget Refinement Act of 1999. The new prospective payment system will replace the existing cost-based payment system effective for cost-reporting periods beginning on or after January 1, 2005, and will be phased in over a three-year transition period. 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. PSI's business and operations are subject to a variety of risks and uncertainties that might cause actual results to differ materially from those projected by any forward-looking statements. Factors that could 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 ability to receive timely additional financing on terms acceptable to PSI to fund PSI's acquisition strategy and capital expenditure needs; (5) 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 (6) potential difficulties in integrating the operations of PSI with recently acquired operations. 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 the Annual Report on Form 10-K for fiscal year 2003 filed on March 25, 2004 under the caption "Risk Factors." - MORE - PSYS Raises Guidance Page 2 November 16, 2004 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 operation of 34 owned or leased freestanding psychiatric inpatient facilities with more than 4,000 beds. The Company also manages freestanding psychiatric inpatient facilities for government agencies and psychiatric inpatient units within medical/surgical hospitals owned by others. -END- -----END PRIVACY-ENHANCED MESSAGE-----