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COVENTRY CARE, INC.: CCI ACQUISITION CORP. TO ACQUIRE OUTSTANDING SHARES OF COVENTRY CARE

 MONONGAHELA, Pa., Nov. 26 /PRNewswire/ -- Coventry Care, Inc. (NASDAQ: CVENA) announced today that it has entered into a letter of intent with CCI Acquisition Corp. of Louisville, Ky., pursuant to which CCI Acquisition Corp. would acquire all the outstanding shares of Coventry Care, Inc. for $15.00 per share in cash, based upon certain conditions.
 In addition, it is possible that Coventry Care may make an additional distribution to shareholders in an amount to be determined at closing. Consummation is subject to a number of conditions, including execution of a definitive agreement satisfactory to the parties, approval of the transaction by the shareholders of Coventry Care and the receipt of various licensing and regulatory approvals. CCI Acquisition Corp. is an affiliate of Complete Care, Inc., an owner and operator of nursing homes with its home offices in Louisville. The purchase is not subject to financing as CCI has obtained a commitment to finance the transaction.
 Coventry Care is a provider of long-term nursing care and operates five nursing homes in western Pennsylvania providing in-patient care at the intermediate, skilled and sub-acute care levels. Coventry Care's principal office is located at 1277 Country Club Road, Monongahela, Pa. 15063.
 -0- 11/26/93
 /CONTACT: Henry J. Leja of Coventry Care, 412-258-7070/
 (CVEN)


CO: Coventry Care, Inc.; CCI Acquisition Corp.; Complete Care, Inc. ST: Pennsylvania, Kentucky IN: HEA SU: TNM

CD-KC -- PG003 -- 7912 11/26/93 10:02 EST
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Publication:PR Newswire
Date:Nov 26, 1993
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