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COMMUNITY PSYCHIATRIC CENTERS' THC SUBSIDIARY COMPLETES FIRST ACQUISITION

 LAGUNA HILLS, Calif., March 23 /PRNewswire/ -- Community Psychiatric Centers (NYSE: CMY) today announced that the company's Transitional Hospitals Corp. (THC) subsidiary has acquired a medical/surgical facility in Tampa, Fla., to operate as its third long-term acute or "transitional" care hospital.
 THC purchased Doctors' Hospital of Tampa, a 102-bed freestanding, three-story facility on 10 acres of land at 4801 N. Howard Ave., from Doctors' Hospital of Tampa Ltd. and Centro Espanol. Terms were not disclosed. Although some renovation will be required, THC was able to take over the operations of the facility immediately.
 Said Richard L. Conte, chairman and chief executive officer of CPC, "This transaction is especially significant because it marks our first acquisition in the transitional health care arena. Whereas our first two THC units were developed by converting beds in portions of a CPC psychiatric hospital and by utilizing a free-standing facility CPC was no longer operating, the Tampa acquisition underscores that we did not enter this business merely to fill empty psychiatric beds. We believe strongly in the growth potential of this service -- particularly because of its cost-effectiveness -- and will continue to pursue acquisitions in non-CPC markets which are well-suited to transitional care."
 Added THC President Rod Laughlin, "We are excited about this opportunity to serve the residents and physicians of the Tampa metroplex area with a state-of-the-art hospital facility with excellent quality programs and a convenient location."
 THC's first two units, which opened in late 1992, were developed in New Orleans and Arlington, Texas. The Tampa facility has been renamed Transitional Hospital of Tampa.
 Community Psychiatric Centers delivers psychiatric and long-term acute care through 52 facilities in the United States, Puerto Rico and the United Kingdom. The company's stock is traded on the New York, Boston, Midwest and Pacific exchanges.
 -0- 3/23/93
 /CONTACT: Suzanne S. Hovdey of Community Psychiatric Centers, 714-831-1166/
 (CMY)


CO: Community Psychiatric Centers; Transition Hospitals Corp.;
 Doctors' Hospital of Tampa ST: California, Florida IN: HEA SU: TNM


JB-MS -- LA004 -- 8519 03/23/93 09:02 EST
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Publication:PR Newswire
Date:Mar 23, 1993
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