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EPIC HOLDINGS ANNOUNCES COMPLETION OF $140 MILLION OFFERING

 EPIC HOLDINGS ANNOUNCES COMPLETION OF $140 MILLION OFFERING
 DALLAS, March 25 /PRNewswire/ -- EPIC Holdings, Inc., holding company for EPIC Healthcare Group, announced today it has completed the sale of its 12 percent senior deferred coupons notes due 2002 for total net proceeds of approximately $135 million.
 EPIC Holdings applied $130 million of the proceeds of the offering to the purchase of the class A and class B preferred stock of EPIC Holdings owned by American Medical International, Inc. (AMI). In connection with the transaction, the class C preferred stock of EPIC held by AMI was converted into EPIC Holdings common stock which, together with certain warrants which were exercised by AMI as part of the transaction, represent approximately 22 percent of the outstanding EPIC holdings common stock on a fully diluted basis.
 According to Kenn S. George, chairman and chief executive officer of EPIC Holdings, Inc., today's agreement marks a significant change in EPIC's equity structure. "We are pleased to have reached an agreement with AMI," he said. "We believe this transaction will help simplify our capital structure and benefit our common stock holders and EPIC employee-owners."
 Based in Dallas, EPIC Healthcare Group owns and manages 40 hospitals in Texas, Louisiana, Arkansas, Oklahoma, Florida, California, Missouri, South Carolina, Georgia and Mississippi and is one of the 10 largest investor-owned, acute-care hospital companies in the nation.
 -0- 3/25/92
 /CONTACT: Suzanne Seifert of EPIC Holdings, 214-443-3521/ CO: EPIC Holdings Inc. ST: Texas IN: HEA SU: OFR


TQ -- NY031 -- 1489 03/25/92 11:47 EST
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Publication:PR Newswire
Date:Mar 25, 1992
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