Printer Friendly

COLUMBIA HEALTHCARE CORPORATION AND HCA - HOSPITAL CORPORATION OF AMERICA FILE REGISTRATION STATEMENT AND PRELIMINARY PROXY MATERIALS FOR PLANNED MERGER

 LOUISVILLE, Ky., and NASHVILLE, Tenn., Oct. 25 /PRNewswire/ -- Columbia Healthcare Corporation (NYSE: COL) and HCA - Hospital Corporation of America (NYSE: HCA) today jointly announced the filing of a Registration Statement (Form S-4), including preliminary joint proxy materials with the Securities and Exchange Commission relating to the planned merger of the two companies.
 On October 18, 1993, Columbia and HCA each filed notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with the Federal Trade Commission and the Antitrust Division of the Justice Department. The required waiting period under the Act will expire on November 17, 1993, unless extended by a request for additional information.
 Columbia and HCA jointly announced signing a definitive agreement to merge in a tax-free stock-for-stock transaction on October 2, 1993. The Registration Statement covers approximately 188 million shares of Columbia common stock to be issued in the transaction. The merger is anticipated to close during the first quarter of 1994.
 The proposed merger of Columbia and HCA will create the largest healthcare provider in the nation, operating 190 acute-care and specialty hospitals with complementary outpatient healthcare services, with estimated annual revenues of over $10 billion. Columbia is building comprehensive healthcare networks consisting of acute-care and specialty hospitals, as well as comprehensive outpatient services in its local markets. These networks share administrative costs, expensive medical equipment and personnel, and reduce excess capacity in order to deliver healthcare services efficiently.
 -0- 10/25/93
 /CONTACT: (Investor) Victor L. Campbell, 615-320-2053, or (Media) David L. McFadden, 615-320-2056, both of HCA; or (Media) Lindy B. Richardson, 502-572-2153, or (Investor) Lee A. Wood, 502-572-2115, both of Columbia Healthcare/
 (COL HCA)


CO: Columbia Healthcare Corporation; HCA - The Hospital Corporation of
 America ?ST: Kentucky, Tennessee IN: HEA SU: TNM


CM -- CH016 -- 6541 10/25/93 17:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 25, 1993
Words:298
Previous Article:TORCHMARK ANNOUNCES VERDICT AGAINST LIBERTY NATIONAL LIFE INSURANCE
Next Article:GM ANNOUNCES PRE-TAX CHARGE AGAINST THIRD-QUARTER-1993 EARNINGS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters