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COLUMBIA AND GALEN RECEIVE FAVORABLE FTC RULING FTC ACCEPTS CONSENT AGREEMENT, SHAREHOLDER VOTE EXPECTED AUG. 31

 FORT WORTH, Texas, and LOUISVILLE, Ky., Aug. 27 /PRNewswire/ -- Columbia Hospital Corporation (NYSE: COL) and Galen Health Care, Inc. (NYSE: GHC) today announced that the proposed merger has been cleared by the Federal Trade Commission. The FTC announced today that it has accepted the consent agreement reached in accordance with last week's sale of Kissimmee Memorial Hospital in Kissimmee, Fla., by Columbia. The FTC stated that it has not challenged the merger in any other markets.
 The shareholder votes are scheduled for Tuesday, Aug. 31, 1993, at 10 a.m. Eastern, with anticipated closing on Sept. 1, 1993.
 "This ruling was the final regulatory approval that we needed to consummate this merger," said Richard L. Scott, chairman and chief executive officer of Columbia. "Receiving approval from the FTC today allows us to focus on the shareholder meetings, and on the opportunities ahead. We are excited about closing this transaction, and look forward to applying our strategy of creating high quality, efficient healthcare networks in all of our new markets. With the support of our employees and medical staffs, this merger has positioned Columbia to succeed in today's dynamic healthcare environment."
 "The benefits of this merger will be long-lasting," said Carl F. Pollard, chairman and chief executive officer of Galen. "Streamlining costs, capitalizing on our combined management experience and rationalizing healthcare delivery will produce positive results for our industry in every market where we operate."
 Columbia Healthcare Corporation will be one of the largest healthcare services provider companies in the nation, operating 96 hospitals and complementary healthcare facilities in 18 states, with estimated annual revenue of over $5 billion. Columbia will build comprehensive high quality healthcare networks in over 20 markets nationwide, improving the efficiency and access to medical care.
 -0- 8/27/93
 /CONTACT: Lee A. Wood of Columbia Hospital, 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, Kentucky IN: HEA SU: TNM

MM-CM -- CH003 -- 6612 08/27/93 12:29 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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