IHS to manage Calif. facilities
Integrated Health Services Inc. of Owings Mills said yesterday it has signed an agreement to manage 23 long-term care and psychiatric facilities in northern California.
The agreement with Crestwood Hospitals Inc., a privately held company, is for 10 years and includes an option to buy the company when the contract expires.
With the latest contract, Integrated Health will operate 135 facilities nationwide. It completed a $182 million purchase in December that essentially doubled its size to 106 facilities and gave it a presence in Florida, Texas and Pennsylvania.