June 28, 1994 |
Community Psychiatric Centers said Monday that it hopes to save more than $2 million a year by relocating its headquarters to Las Vegas and consolidating some operations. Besides moving its corporate offices from Laguna Hills, Community Psychiatric is consolidating three divisions now based in different parts of the nation, said Richard Conte, chief executive officer. Doing so in Las Vegas, rather than in Orange County, will be less expensive, Conte said.
CALIFORNIA | LOCAL
May 20, 1994 |
Many Orange County mental health professionals are reconsidering how they treat psychiatric cases following a jury's decision that therapists had negligently "reinforced" an Irvine woman's emerging memories that her father raped her as a child. The UCI Medical Center is reviewing its use of hypnosis and a drug that was used by the defendant therapists to clarify repressed memories.
May 12, 1994 |
A New York bank, concerned about the value of its stake in Community Psychiatric Centers, wants the company to dump a "poison pill" strategy that directors adopted five years ago to discourage unwanted takeover attempts. Amalgamated Bank of New York, which owns 2,700 shares of the Laguna Hills-based operator of psychiatric hospitals, suggests that the amendment to the company's corporate charter was adopted without shareholder approval.
May 10, 1994
Community Psychiatric Centers said Monday that a subsidiary has signed an agreement to manage a Seattle hospital that it eventually plans to acquire. Community Psychiatric, a Laguna Hills-based operator of psychiatric hospitals, said that its Atlanta-based subsidiary, Transitional Hospitals Corp., will manage Fifth Avenue Hospital until it can obtain permission from Washington regulators to buy the 80-bed facility.
April 11, 1994
Community Psychiatric Centers, the Laguna Hills provider of psychiatric services, reported a first-quarter profit of $625,000, or 1 cent a share. That compares with a net loss of $37.9 million, or 88 cents a share, for the corresponding period last year, which included a charge of nearly $55 million related to the restructuring of several of the company's U.S. psychiatric facilities. Revenue for the quarter ended Feb. 28 rose 9%, to $92.5 million from $84.7 million.
February 10, 1994
Community Psychiatric Centers has declared a one-time, one-cent dividend, payable March 15, to shareholders of record on March 1. The dividend is designed to make Community Psychiatric more appealing to institutional shareholders who invest in companies that pay dividends, said Richard L. Conte, Community Psychiatric chairman and chief executive. The Laguna Hills company suspended its regular quarterly dividend in 1993 to help fund a new, long-term critical care subsidiary.