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GEO announces extended partnership for D. Ray James Correctional Facility with the Federal Bureau of Prisons.

M2 EQUITYBITES-October 3, 2016-GEO announces extended partnership for D. Ray James Correctional Facility with the Federal Bureau of Prisons

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The GEO Group (NYSE:GEO) reported on Friday the receipt of two-year contract renewal for the company-owned D. Ray James Correctional Facility through 30 September 2018 from the Federal Bureau of Prisons.

Under the new agreement, the D. Ray James Correctional Facility will accommodate up to 1,900 federal inmates with a fixed payment for 1,800 beds compared to its previous contract which contained a fixed payment for 1,962 beds.

According to The GEO Group, this facility has a proven track record of providing cost-effective, high-quality services on behalf of the Federal Bureau of Prisons, with industry-leading rehabilitation and recidivism reduction programmes.

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Publication:M2 EquityBites (EQB)
Date:Oct 3, 2016
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