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CHARTER MEDICAL AND QUORUM HOSPITAL PURCHASE COMPLETED

 MACON, Ga., and NASHVILLE, Tenn., Sept. 30 /PRNewswire/ -- Charter Medical Corporation (AMEX: CMD) and Quorum Health Group, Inc., today announced that an affiliate of Quorum Health Group has completed its intended purchase of the stock of Charter's subsidiaries that own 10 acute care hospitals and related assets for a purchase price of $340 million.
 Quorum said that it financed the acquisition, which is effective today, with additional equity and an expansion of its current credit facility. Charter said that it used proceeds from the sale to reduce senior debt.
 The 10 hospitals, with a total of 1,421 licensed beds, are located in Georgia, Louisiana, Texas, Nevada, California, Iowa and Virginia.
 Charter Medical Corporation is an international health care provider and operates 76 psychiatric hospitals in the United States and Europe.
 Quorum Health Group, Inc., is a privately held firm that owns and operates acute care hospitals. A subsidiary, Quorum Health Resources, Inc., is the nation's largest hospital management services firm, with client hospitals throughout the United States.
 -0- 9/30/93
 /CONTACT: Investors: Nancy Gore, 912-742-1161, or Media: Andrew Brimmer, 212-484-7754, both of Charter Medical Corporation; or Mike Wiley, 615-340-5735, or Sandy Anthony, 615-340-5737, both of Quorum Health Group/
 (CMD)


CO: Charter Medical Corporation; Quorum Health Group, Inc. ST: Georgia, Tennessee IN: HEA SU: TNM

BR-RA -- AT013 -- 7404 09/30/93 15:06 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:225
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