CHAMPION HEALTHCARE CORPORATION ANNOUNCES COMPLETION OF HOSPITAL ASSET EXCHANGE.HOUSTON--(BUSINESS WIRE)--March 1, 1996--Champion Healthcare Corporation (AMEX AMEX See: American Stock Exchange :CHC) and Columbia/HCA (NYSE NYSE See: New York Stock Exchange :COL) today announced that they have completed a previously announced exchange of hospitals. Champion has acquired the 50 bed general acute facility, Jordan Valley Hospital, located in West Jordan, Utah West Jordan is a city and a suburb of Salt Lake City in the U.S. state of Utah. West Jordan is a rapidly growing suburb of Salt Lake City, with a balanced housing stock, quality commercial districts and a strong industrial base. , in exchange for the 85 bed acute care facility, Autauga Medical Center, and an adjacent 72 bed skilled nursing facility skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. , Autauga Health Center, located in Prattville, Alabama. Terms of the transaction were not disclosed. Charles R. Miller, chairman, president and chief executive officer of Champion, commented, "Jordan Valley Hospital will significantly enhance our presence in the Salt Lake City market while complementing our continuing development of an integrated delivery network. Our facility, Salt Lake City Regional Medical Center, will serve as the hub of our network while we integrate this acquisition to meet our objective of providing convenient, high-quality care and service at the lowest cost." Champion Healthcare Corporation, a public company listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , was founded in 1990 and is headquartered in Houston, Texas. Including hospital partnerships, Champion presently owns or operates nine hospitals in six states, with a total of 1,282 licensed beds. CONTACT: Champion Healthcare Corp., Houston James G. VanDevender, Deborah H. Frankovich, 713/583-5491 |
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