Printer Friendly

COLUMBIA HOSPITAL CORPORATION AND BASIC AMERICA MEDICAL COMPLETE MERGER

COLUMBIA HOSPITAL CORPORATION AND BASIC AMERICA MEDICAL COMPLETE MERGER
 FORT WORTH, Texas, July 15 /PRNewswire/ -- Columbia Hospital Corporation (NASDAQ: CHOS) and Basic American Medical, Inc. (NASDAQ: BAMI) today announced the merger of Basic American into a subsidiary of Columbia. As a result of the merger, each share of Basic American common stock that was outstanding immediately prior to the effective time of the merger will be converted, at the election of the holder, into either (a) 1.10 shares of Columbia common stock or (b) $6.00 in cash (without interest) and 0.7372 shares of Columbia common stock.
 Separately, Columbia also announced changes in the composition of its board of directors which increased the size of the board to eight members. Ethan Jackson, chairman of Basic American Medical, Inc. prior to the merger, and Brady R. Justice, Jr., president of Basic American Medical, Inc. prior to the merger, have been elected to the board of directors of Columbia. Additionally, Donald E. Steen, chairman of Medical Care International, has resigned from the board of directors of Columbia due to time requirements involved in Medical Care International's proposed merger with Critical Care America, Inc.
 Based in Forth Worth, Texas, Columbia Hospital Corporation, after the merger, operates 21 general acute-care hospitals and two psychiatric hospitals with 4,576 licensed beds. Columbia also operates various related health care delivery businesses in its markets, including outpatient diagnostic centers, outpatient physical therapy centers, outpatient surgery centers, a cardiac rehabilitation/wellness center, lithotripsy services, medical rehabilitation and an outpatient radiation therapy center. Additionally, Columbia operates other healthcare businesses.
 -0- 7/15/92
 /CONTACT: Stewart J. Campbell of Columbia Hospital Corp., 817-870-5900, or Anthony J. Russo or Susan Noonan of Noonan/Russo Communications, 212-979-9180, for Columbia Hospital Corp./
 (CHOS BAMI) CO: Columbia Hospital Corporation; Basic American Medical Inc. ST: Texas, Indiana IN: HEA SU: TNM


LD-SM -- NY089 -- 9722 07/15/92 16:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 15, 1992
Words:317
Previous Article:INACOM REPORTS PROFITABLE GROWTH IN SECOND QUARTER; REVENUES INCREASE DESPITE WIDESPREAD PRICE REDUCTIONS IN INDUSTRY
Next Article:GE SECOND QUARTER EPS UP 9 PERCENT; OPERATING MARGIN CONTINUES STRONG AT 12.6 PERCENT LEVEL; DIVIDEND TO BE INCREASED 7.3 PERCENT AND SHARE...
Topics:


Related Articles
COLUMBIA CLOSES ST. FRANCIS HOSPITAL TRANSACTION; CONTINUES TO BUILD SOUTH FLORIDA HEALTHCARE SYSTEM
COLUMBIA HOSPITAL CORPORATION AND BASIC AMERICAN MEDICAL ANNOUNCE JULY 15 MERGER VOTE
COLUMBIA HOSPITAL CORPORATION TO ACQUIRE MEDICAL CENTER HOSPITAL OF PUNTA GORDA
COLUMBIA SAYS FTC PRESS RELEASE IS AN EXPECTED ADMINISTRATIVE PROCESS
COLUMBIA HOSPITAL CORPORATION AND GALEN HEALTH CARE ANNOUNCE PLANNED MERGER
COLUMBIA HOSPITAL CORPORATION AND GALEN HEALTH CARE, INC. ANNOUNCE PLANNED MERGER
COLUMBIA AND GALEN RECEIVE FAVORABLE FTC RULING FTC ACCEPTS CONSENT AGREEMENT, SHAREHOLDER VOTE EXPECTED AUG. 31
COLUMBIA HEALTHCARE CORPORATION AND HCA - HOSPITAL CORPORATION OF AMERICA ANNOUNCE PLANNED MERGER
COLUMBIA COMPLETES ACQUISITION OF ALABAMA HOSPITALS IN FACILITY EXCHANGE WITH CHAMPION HEALTHCARE CORPORATION
Halifax Community Health System to Acquire Atlantic Medical Centers.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters