Law suits and pay hikes
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| Topics: children, hospitals
Psychiatric Solutions, the for-profit corporation owning psychiatric hospitals and residential treatment programs for youth, landed on the Forbes list of America’s Best Big Companies of 2007. With managers who cut their teeth on Nashville’s Corrections Corporation of America, and Hospital Corporation of America, this should not surprise. Still the stock was downgraded recently by Credit Suisse to underperform. According to SEC filings, the company recently approved pay hikes for its managers.
In an unrelated incident, another law suit charging sexual and physical misconduct was filed against Psychiatric Solutions in its capacity as the owner and operator of Whisper Ridge, a residential treatment program for youth. Previously five employees were indicted, one pled guilty, one case was dropped in November when the alleged victim left the state.
