CHAMPION HEALTHCARE CORPORATION TO PURCHASE JORDAN VALLEY HOSPITAL IN FACILITY EXCHANGE WITH COLUMBIA/HCA.HOUSTON--(BUSINESS WIRE)--Nov. 10, 1995--Champion Healthcare Corporation (AMEX AMEX See: American Stock Exchange :CHC) and Columbia/HCA (NYSE NYSE See: New York Stock Exchange :COL) today jointly announced the execution of a definitive agreement for Champion to acquire Jordan Valley Hospital from Columbia/HCA. Jordan Valley Hospital, located in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , is a general acute facility with 50 licensed beds. The sale is subject to approval by the Federal Trade Commission (FTC) and will close upon receipt of FTC approval. The terms were not disclosed other than Champion will exchange Autauga Medical Center, an 85 bed acute care facility, and adjacent Autauga Health Care Center, a 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. in Prattville, Alabama, for Jordan Valley Hospital. Charles R. Miller Charles Robert Miller (September 30 1857 – September 18 1927) was an American lawyer and politician from Wilmington, in New Castle County, Delaware. He was a member of the Republican Party, who served in the Delaware General Assembly and as Governor of Delaware. , chairman, president and chief executive officer of Champion, said, "This is an innovative transaction that adds value to and significantly enhances our existing presence in the growing and attractive Salt Lake City market. In combination with Salt Lake Regional Medical Center, the acquisition of Jordan Valley Hospital will enable Champion to establish a platform for the integrated delivery network we are committed to developing and expanding in the Salt Lake City marketplace. Our objective is to provide convenient, high-quality care and service at the lowest cost to the citizens and payors of Salt Lake City. We have been extremely impressed with the quality of the medical staffs affiliated with Salt Lake Regional Medical Center and Jordan Valley Hospital and look forward to working with the physicians at both facilities, and within the community, as partners in serving the needs of our patients and payors. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , we are continuing to explore additional opportunities for further expanding our presence in the Salt Lake City market and along the Wasatch Front." 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. With the completion of this transaction, and including hospital partnerships, Champion will own or operate nine hospitals in six states, with a total of 1,282 licensed beds. CONTACT: Champion Healthcare Corporation, Houston James G. VanDevender or Deborah H. Frankovich, 713/583-5491 |
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