Anyone know if there is any connection between "Brown" Schools and "Brown" Brothers Harriman?
Psychiatric Solutions Inc (Joey Jacobs) purchased Brown Schools. Financed by Brown Brothers Harriman.
http://www.nybookdistributors.com/wall_ ... thers.htmlBrown Brothers Harriman & Co. is America's oldest and largest private bank. The firm traces its origins to December 1800, when Alexander Brown emigrated from Ireland and established an "Irish Linen Warehouse" in Baltimore, where he would eventually be joined by his four sons. John A. Brown & Co. was established by the third son in Philadelphia in 1818 and it is from this firm that the present-day Brown Brothers Harriman & Co. descends.
http://www.parallaxresearch.com/datacli ... ablishmentBecause Brown Brothers, Harriman is a private banking firm it has relatively no government supervision and does not publish an- nual report. In other words, we know NOTHING about its operations - at least we know nothing from Brown Brothers, Harriman sources Here's a line-up of Brown Brothers, Harriman partners who were also members of The Order in the mid 1970s: Name of Partner Date Initiated Walter H. Brown 1945 Prescott Sheldon Bush 1917 Granger Kent Costikyan 1929 Edward Roland Noel Harriman 1917 W. Averell Harriman 1913 Stephen Young Hord 1921 Robert Abercrombie Lovett 1918 John Beckwith Madden 1941 Knight Woolley 1917 It's worth thinking about this concentration of names and the power it represents in the light of outside comments on The Order over the years.
With deaths mounting, due to restraint, Brown Schools starts selling psych facilities
13 February 2003
FRANKLIN, Tenn. (February 13, 2003) ©¤ Psychiatric Solutions, Inc. (¡°PSI¡±) (Nasdaq: PSYS) today announced that it has signed a definitive agreement for the purchase of six psychiatric facilities from The Brown Schools, Inc. for $63 million in cash. The six facilities, which have an aggregate of 790 beds, are located in Austin, San Antonio and San Marcos, Texas; Charlottesville, Virginia; Colorado Springs, Colorado; and Tulsa, Oklahoma. For 2002, the facilities produced combined revenues of $76 million. Consummation of the transaction, which is subject to customary closing conditions, is expected on March 31, 2003
http://64.233.179.104/search?q=cache:hF ... s%22&hl=en6 May 2003 Psychiatric Solutions Inc (Joey Jacobs) merges with PMR
http://www.findarticles.com/p/articles/ ... i_85495212June 2003
Psychiatric Solutions Inc (Joey Jacobs) recently purchased five inpatient facilities from The Brown Schools with another expected to be bought in mid-April. The six facilities collectively increase the total number of PSI inpatient beds to about 1,500.
Psychiatric Solutions Inc. has signed a definitive agreement to buy Ramsay Youth Services for $78 million in a deal that nearly doubles the number of inpatient beds owned by the Franklin-based company.
http://seattle.bizjournals.com/nashvill ... ily17.htmlNew York, NY ¨C (June 30, 2003) ¨C Brown Brothers Harriman today announced that The 1818 Mezzanine Fund II, L.P. (the ¡°Fund¡±) has purchased $1.0 million of a $25.0 million Series A Convertible Preferred Stock offering (the ¡°Series A Preferred¡±) issued by Psychiatric Solutions, Inc. (¡°PSI¡± or the ¡°Company¡±) in connection with two recent acquisitions. The Fund¡¯s investment is in addition to a $10.0 million investment in Senior Subordinated Notes with Warrants (the ¡°Notes¡±), which the Fund purchased from PSI in July 2002. Half of the proceeds of the new Series A Preferred were used, along with bank debt provided by the Company¡¯s existing senior lender, to help finance the purchase of six freestanding behavioral healthcare hospitals from the Brown Schools (the ¡°Brown Schools Acquisition¡±). The remaining proceeds of the Series A Preferred were used in conjunction with a $150.0 million
offering of senior subordinated notes to acquire Ramsay Youth Services, Inc. (the ¡°Ramsay Acquisition¡±) and to refinance all existing debt (including the $10.0 million of Notes provided by the Fund).
In addition to its investment in the Series A Preferred, the Fund continues to own common shares of PSI. Following the Brown Schools Acquisition and the Ramsay Acquisition, PSI is now the second largest operator of freestanding specialty psychiatric hospitals in the U.S. with 22 facilities. PSI also manages 48 behavioral healthcare units within general acute care hospitals owned by third parties.
PSI was founded in 1997 by two former executives of Columbia HCA Healthcare (now known as HCA, Inc.), the largest medical surgical hospital chain in the U.S., and by a well-known healthcare industry consultant.
¡°Since our initial $10.0 million investment in July 2002, under the guidance of Joey Jacobs and his strong management team, PSI has continued to capitalize on the favorable supply -demand imbalance that exists in several markets in the
U.S. for treatment in freestanding behavioral healthcare facilities and, as a result, has delivered strong results in its base business,¡± commented Joe Donlan, a Managing Director of Brown Brothers Harriman and a co-manager of the 1818 Mezzanine Funds, who also serves as a member of PSI¡¯s Board of Directors. ¡°The Brown Schools and Ramsay transactions are further proof of management¡¯s ability to grow the Company by identifying and consummating the acquisition of attractive single and multi-facility behavioral healthcare providers. Further, the acquisition of the Brown Schools and Ramsay facilities provides PSI with an entry into the child and adolescent segment of the behavioral healthcare market, a segment with favorable demand and long-term growth prospects.¡±
The 1818 Mezzanine Fund II, L.P
http://64.233.179.104/search?q=cache:Th ... ools&hl=en3 May 2004
Acquisitions have been kind to Franklin-based Psychiatric Solutions and the company continues to add to its holdings.
Fueled by an increase in its bed county through the purchase of facilities, the company showed a 190 percent increase in revenues for the first quarter, reaching $108 million compared to $37 million during the first quarter of last year.
Including a loss of $6.4 million on the refinancing of long-term debt, the company showed a net loss in the quarter of $360,000 compared to earnings in the first quarter last year of $789,000.
http://64.233.179.104/search?q=cache:DM ... s%22&hl=enhttp://www.tennessean.com/business/comp ... 9856.shtml