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COMMUNITY PSYCHIATRIC CENTERS ANNOUNCES PLANS TO ENTER TRANSITIONAL CARE MARKET

 COMMUNITY PSYCHIATRIC CENTERS ANNOUNCES PLANS
 TO ENTER TRANSITIONAL CARE MARKET
 LAGUNA HILLS, Calif., May 21 /PRNewswire/ -- Community Psychiatric Centers (NYSE: CMY) today announced that it has formed a new subsidiary which will enter the fast-growing transitional care market. The subsidiary, Transitional Hospitals Corporation (THC), plans to open its first two converted facilities in October 1992, and is in the advanced stages of converting additional space in several more CPC facilities.
 Chief Executive Officer Richard L. Conte said, "We have been examining the transitional care market closely since December of last year. With the changes in the psychiatric care market, a significant number of beds in our facilities will simply never be used to serve our basic business. We remain strongly committed to expanding our core business to a true continuum of psychiatric care, but we also need to deploy our physical assets to maximize the utilization of our fixed plant."
 The same cost-containment efforts which are adversely affecting CPC's core psychiatric business are fueling the demand for transitional care, which treats medically-complex, sub-acute care patients in a lower-cost setting than a medical/surgical hospital can offer. CPC's facilities are ideally suited to treating long-term patients through a variety of transitional care services.
 The company plans to convert floors in facilities in markets deemed appropriate candidates for transitional care. Rarely will an entire hospital be converted unless it is already closed. In addition, CPC will opportunistically acquire facilities in markets where it currently does not operate.
 "There is relatively little competition in this field at this time," Conte continued. "Besides THC, there will be only one other pure sub- acute care operator, Vencor. We believe our asset base and strong funding capability will enable THC to become a leader in this market in very short order. From CPC's years of experience, we know how to build and convert facilities, how to contain costs, how to market services, and how to provide the highest standards of care, which are all key to making this business successful."
 Community Psychiatric Centers delivers psychiatric services through 50 hospitals across 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- 5/21/92
 /CONTACT: Suzanne S. Hovdey of Community Psychiatric Centers, 714-831-1166/
 (CMY) CO: Community Psychiatric Centers; Transnational Hospitals Corp. ST: California IN: HEA SU:


KJ -- LA036 -- 3117 05/21/92 18:26 EDT
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Publication:PR Newswire
Date:May 21, 1992
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