Franklin-based Psychiatric Solutions is entertaining buyout offers.
The company announced Wednesday it has been approached by third parties in connection with a potential acquisition. The Wall Street Journal reports private equity firm Bain Capital is in talks and is expected to pay roughly $1.7 billion.
A statement from Psychiatric Solutions says there’s no certainty a deal will take place.
The company operates freestanding psychiatric hospitals in 32 states and is the largest for-profit chain in the country. According to Tennessee labor figures, Psychiatric Solutions employs nearly 1,700 workers at its headquarters.
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