Corizon Launches From Correctional Healthcare Merger
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BRENTWOOD, Tenn., and ST. LOUIS, Mo., (June 03, 2011) — Two leading correctional healthcare companies came together as one today under the name Corizon, with the mission of providing best-in-class service to state and local governments throughout the U.S.
Corizon, with approximately 11,000 employees and independent contractors providing healthcare in over 400 prisons, jails and other correctional facilities, was created from the merger of the parent companies of Correctional Medical Services and PHS Correctional Healthcare.
Valitás Health Services, Inc., the parent company of Correctional Medical Services, Inc., and America Service Group Inc., the parent company of PHS Correctional Healthcare, Inc., signed an agreement and plan of merger in March. Following governmental and regulatory review, the transaction was approved June 1 by America Service Group shareholders, who are being paid $26.00 per share of ASG. The transaction was formally closed today. Corizon will be privately held.
"Corizon brings together today's best-in-class correctional healthcare companies with the vision and commitment to become even better tomorrow," said Rich Hallworth, Corizon chief executive officer. "Within the talented people and systems of Corizon are a wealth of expertise, the latest in methodology and technology, and economies of scale--all working on behalf of the clients we serve and the patients in our care."
"Corizon's vision is firmly centered around service--to our clients, our patients and our employees," said Stuart Campbell, Corizon president and chief operating officer. "To that we add the insight of unparalleled experience assisting our client partners, and caring professionals serving the unique healthcare needs of patients."
Corizon's corporate headquarters is in Brentwood, Tenn. and the operational headquarters is in St. Louis, Mo.