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September 05, 2015 4:49 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Corrections Corporation of America

Company Overview

Corrections Corporation of America, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. It owns, operates, and manages prisons and other correctional facilities; and provides inmate residential and prisoner transportation services for governmental agencies. The company also offers various rehabilitation and educational programs, including basic education, religious services, life skills and employment training, and substance abuse treatment, as well as food services, work and recreational programs, and healthcare services, such as medical, dental, and mental health services. In addition, it leases its facilities to third-pa...

10 Burton Hills Boulevard

Nashville, TN 37215

United States

Founded in 1983

14,040 Employees

Phone:

615-263-3000

Fax:

615-263-3140

Key Executives for Corrections Corporation of America

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 45
Total Annual Compensation: $811.2K
Chief Financial Officer and Executive Vice President
Age: 47
Total Annual Compensation: $323.0K
Chief Development Officer and Executive Vice President
Age: 45
Total Annual Compensation: $377.4K
Chief Corrections Officer and Executive Vice President
Age: 59
Total Annual Compensation: $377.4K
Compensation as of Fiscal Year 2014.

Corrections Corporation of America Key Developments

Steve Groom to Retire from Corrections Corporation of America as Executive Vice President and General Counsel

On August 31, 2015, Steve Groom informed Corrections Corporation of America of his intention to retire from his position as Executive Vice President and General Counsel. The company has started developing plans for filling Mr. Groom's position upon his departure and Mr. Groom will remain available to the company as a resource during a transition period.

Corrections Corporation of America Closes Acquisition of Four Community Corrections Facilities

Corrections Corporation of America (CCA) announced that it has closed on the acquisition of four community corrections facilities from a privately held owner of community corrections facilities and other government leased assets, for approximately $13.5 million, excluding transaction related expenses. The all-cash transaction closed August 27, 2015, and CCA did not assume any debt as part of the transaction. The four acquired community corrections facilities have a capacity of approximately 600 beds and are leased to Community Education Centers Inc. under triple net lease agreements that extend through July 2019 and include multiple five-year lease extension options. CEC separately contracts with the Pennsylvania Department of Corrections and the Philadelphia Prison System to provide rehabilitative and re-entry services to residents and inmates at the leased facilities.

Corrections Corporation of America Announces Appointments to Risk Committee

on August 14, 2015, the Board of Directors of Corrections Corporation of America revised its Board committee structure by establishing a new committee, the Risk Committee, and to reflect the new structure, changed the Audit and Risk Committee to the Audit Committee. The Risk Committee will assist the Board in coordinating the Board's oversight of the company's risk assessment and risk management practices and the company's legal, regulatory and contract compliance. The initial members of the Risk Committee will be Thurgood Marshall, Jr. (Chair), Donna Alvarado, Anne Mariucci and Charles Overby.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 5, 2014
Corrections Corporation of America, Houston Educational Facility
 

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