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Corizon Health Secures Investment of More Than $100 Million to Strengthen Balance Sheet
BRENTWOOD, Tenn., Nov. 27, 2018 (GLOBE NEWSWIRE) -- Corizon Health, the nation’s leading provider of correctional health services, announced the completion of a transaction that eliminates more than $100 million of outstanding debt.
“This is a very proud moment for Corizon Health,” company Chief Executive Officer Steve Rector said.
“The successful closing of this transaction strengthens our ability to achieve our mission to deliver premier healthcare services to our patients in collaboration with our partners,” he continued. “This deal also signals our investors’ confidence in our revitalized leadership team’s ability to achieve our strategic plans.”
Rector joined Corizon Health this past December, following a corporate reorganization earlier that year.
“Right-sizing our balance sheet has been a top priority of mine,” Rector said. “With this transaction, Corizon not only will be the industry leader from an operational perspective but also from a balance sheet perspective.
“The company is now positioned to better serve our mission and support our current clients,” he explained. “This will enable us to accelerate business development and investment opportunities.”
Jeff Goldberg, Chairman of the Corizon Health Board of Directors, credited the company’s leadership team with obtaining investor support for this transaction.
“Steve’s formation of one of the strongest leadership teams in the correctional healthcare industry has been, and will continue to be, the key driver in our success,” Goldberg said. “The Board and our investors are extremely excited about the company’s progress and future potential.”
Over the past year, Corizon has been singularly focused on developing and implementing its “COR Care” approach, which emphasizes teamwork, standardization of best practices, and investment in technology.
“From hiring the right personnel for each position, to improving training and development of our existing team, to refining industry-leading service delivery and analytics for our client partners, we could not be better positioned for future success,” Rector said.
About Corizon Health
Corizon Health is the leading provider of correctional healthcare services in the United States, providing quality healthcare services to states and municipalities across the country. Corizon Health, which is celebrating its 40-year anniversary, offers individual or comprehensive solutions for physical care, behavioral care, pharmaceutical and reentry services. For more information, please visit www.corizonhealth.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a2e8d4cb-c92a-40d5-aaf4-e08240e8a09e
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