Champion Healthcare Corp. to purchase Salt Lake Regional Medical Center.HOUSTON--(BUSINESS WIRE)--Jan. 25, 1995--Champion Healthcare Corporation (AMEX AMEX See: American Stock Exchange :CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ) and HealthTrust Inc. (NYSE NYSE See: New York Stock Exchange :HTI) today jointly announced a definitive agreement for Champion to acquire Salt Lake Regional Medical Center from HealthTrust. Salt Lake Regional Medical Center, 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 tertiary care facility with a total of 200 licensed beds. Terms were not disclosed. The sale is subject to approval by the Federal Trade Commission (FTC FTC See Federal Trade Commission (FTC). ) and will close shortly after FTC approval is obtained, which is expected in about 60 days. 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 a very exciting transaction for Champion. Salt Lake Regional Medical Center is a prestigious provider of high-quality health services and has a long and distinguished history in the state of Utah. As a tertiary hospital with a full spectrum of services, this hospital is a major component of an integrated delivery network and our objective is to see that it continues fulfilling this important role within the community. Our strategy will be to develop Salt Lake Regional Medical Center as a premier provider of high-quality, low-cost services, making the hospital even more attractive in a managed care environment. We are extremely impressed with the quality of the hospital's medical staff and look forward to working with them in our plans for the future." HealthTrust Inc., headquartered in Nashville, Tenn., is one of the largest healthcare providers in the United States with 116 affiliated hospitals. On Oct. 4, 1994, HealthTrust announced the signing of a definitive agreement to merge with Columbia/HCA Healthcare Corporation (NYSE:COL) in a tax-free, stock-for-stock transaction. Under the terms of the agreement, HealthTrust shareholders will receive 0.88 of a share of Columbia common stock in exchange for each HealthTrust share held. The merger is expected to close in the first quarter of 1995. Champion Healthcare Corporation, a publicly held 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 one hospital partnership, Champion will own and operate eight hospitals and one 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 seven states, with a total of 1,345 licensed beds. The company also has an agreement to acquire the 269-bed Methodist Medical Center of Jacksonville, Fla. CONTACT: Champion Healthcare, Houston Charles R. Miller 713/583-5491 |
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