Psychiatric Centers to Spin Off Units: The...

Psychiatric Centers to Spin Off Units: The directors of Community Psychiatric Centers of Laguna Hills approved a plan to spin off two of the company’s three divisions into a new corporation. The operator of psychiatric hospitals and other medical businesses said the move is intended to spur faster growth of the remaining company and the newly formed business, which will be named Vivra. Community Psychiatric will retain ownership of its psychiatric hospital chain, which accounted for 76% of the company’s fiscal 1988 revenue of $355 million. Vivra will operate its kidney dialysis and home health-care divisions.