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COLUMBIA/GALEN COMPLETE MERGER SHAREHOLDERS APPROVE MERGER EFFECTIVE SEPT. 1, 1993

 FORT WORTH, Texas, and LOUISVILLE, Ky., Aug. 31 /PRNewswire/ -- Columbia Hospital Corporation (NYSE: COL) and Galen Health Care, Inc. (NYSE: GHC) today jointly announced that their respective shareholders have approved the merger of the two companies. The effective date of the merger will be Sept. 1, 1993. Under the terms of the merger, Galen shareholders will receive 0.775 of a share of Columbia in exchange for each Galen share held.
 "We are excited about pooling our resources and strengths with Columbia's," said Carl F. Pollard, who will become Chairman of Columbia Healthcare Corporation on Sept. 1, 1993. "Combined we will accomplish more positive results in reducing costs and assuring high quality medical care than either one of the predecessor companies would have achieved alone. The merger both enhances shareholder value, and benefits our employees, physicians and patients in the communities we serve."
 "We are now in a position to affect the healthcare delivery system of over 20 markets nationwide with our strategy of efficient, quality networks that help to reduce overcapacity, and streamline costs," said Richard L. Scott, who will be President and Chief Executive Officer of Columbia upon completion of the merger. "This transaction is the harbinger of healthcare reform in the private sector."
 Columbia Healthcare Corporation is one of the largest healthcare services provider companies in the nation, operating 94 hospitals and complementary healthcare facilities in 18 states, with estimated annual revenues of over $5 billion. Columbia will build comprehensive quality healthcare networks, improving the efficiency and access to quality medical care.
 -0- 8/31/93
 /CONTACT: (Media) Lindy B. Richardson of Galen Health Care, 502-572-2153, or (Investor) Lee A. Wood of Columbia Hospital Corporation, 817-870-5970, or Richard A. Lechleiter of Galen Health Care, 502-572-2143/
 (COL GHC)


CO: Columbia Hospital Corporation; Galen Health Care, Inc. ST: Texas, North Carolina IN: HEA SU: TNM

CM -- CH002 -- 7428 08/31/93 10:37 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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