Psychiatric Solutions Elects William M. Petrie, M.D. To Its Board Of Directors

FRANKLIN, Tenn., Sept. 1 /PRNewswire-FirstCall/ -- Psychiatric Solutions, Inc. ("PSI") today announced that it has elected William M. Petrie, M.D. to its Board of Directors.

Dr. Petrie is President of Psychiatric Consultants, P.C., a leading psychiatry practice in Nashville, TN, as well as the Clinical Director of Geriatric Services and an attending physician at Parthenon Pavilion at Centennial Medical Center in Nashville, TN. He is also Clinical Professor of Psychiatry at the School of Medicine at Vanderbilt University and Clinical Assistant Professor of Psychiatry in the Department of Psychiatry at Meharry Medical College. With over 27 years experience in conducting clinical research trials, Dr. Petrie has been the primary investigator for a substantial variety of clinical studies. A noted researcher, Dr. Petrie has also published dozens of papers in numerous healthcare publications.

Commenting on the announcement, Joey Jacobs, Chairman, President and Chief Executive Officer of PSI, said, "Bill Petrie is a highly accomplished physician with an outstanding reputation for his work in advancing the practice of psychiatry. With his in-depth experience in the research and academic aspects of psychiatry, combined with his active day-to-day inpatient practice, Bill brings an invaluable perspective to our Board, which we expect will enhance our ability to support the dedicated healthcare professionals throughout PSI. We welcome Bill to the Board and are confident that he can add significant value to our efforts to make PSI the country's premier provider of inpatient psychiatric services."

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 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." 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.

Psychiatric Solutions, Inc.

CONTACT: Brent Turner, Vice President, Treasurer andInvestor Relations of Psychiatric Solutions, Inc., +1-615-312-5700

Back to news