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Franklin, TN-based Psychiatric Solutions hospital chain is in sale talks

The Tennessean, March 11, 2010

Shares of Franklin, TN-based hospital chain Psychiatric Solutions rose 21 to $29 per share after reports that the company was in buyout talks with Bain Capital, one of several private investment firms that bought hospital giant HCA four years ago. Psychiatric Solutions confirmed that unnamed third parties have approached it about a potential acquisition. The company said it has retained Goldman Sachs & Co. and Shearman & Sterling LLP as financial and legal advisers, The Tennessean reports.