Cooper Sells Rest of Its Psychiatric Institutions

Cooper Cos. Inc. said Monday it agreed to sell the remainder of its Hospital Group of America psychiatric services business to Universal Health Services Inc. for $27 million, plus an additional $3 million if certain undisclosed contingencies are met.

Irvine-based Cooper, which is seeking to focus on its core business of making contact lenses and gynecological devices, is selling three psychiatric institutions to Pennsylvania-based Universal. A fourth institution was sold to Focus Healthcare LLC of Ooltewah, Tenn.