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HCA TO SELL BAYTOWN, TEXAS, HOSPITAL; SALE TO RESULT IN EPS CHARGE OF $.10 PER SHARE

 HCA TO SELL BAYTOWN, TEXAS, HOSPITAL;
 SALE TO RESULT IN EPS CHARGE OF $.10 PER SHARE
 NASHVILLE, Tenn., Aug. 21 /PRNewswire/ -- HCA - Hospital Corporation of America (NYSE: HCA) today announced that a Texas subsidiary of HCA has executed a definitive agreement to sell Gulf Coast Hospital in Baytown, Texas, to a subsidiary of Champion Healthcare Corporation of Houston.
 The transaction, which is expected to be completed during the company's third quarter ending Sept. 30, is subject to various conditions including receipt of necessary regulatory approvals.
 At the time of completion, HCA expects to receive total cash proceeds of approximately $15 million. The company will utilize the net cash proceeds from the sale to repay outstanding bank debt.
 As a result of this planned sale, HCA expects to record an after-tax charge of approximately $17 million or $.10 per share in its third quarter ending Sept. 30. The net book value of the company's investment in Gulf Coast Hospital approximates $35 million, which includes approximately $13 million of goodwill.
 Gulf Coast Hospital, a 139-bed medical/surgical hospital, became part of HCA in 1981 with the company's acquisition of a multi-facility hospital management company.
 The company believes that the sale of Gulf Coast Hospital and the repayment of bank debt will be beneficial to the future financial results of HCA. The company can give no assurances as to whether the proposed transaction will be completed.
 -0- 8/21/92
 /CONTACT: Victor L. Campbell, vice president, Investor Relations of HCA - Hospital Corporation of America, 615-327-9551/
 H?CA) CO: HCA - Hospital Corporation of America; Champion Healthcare
 Corporation ST: Tennessee, Texas IN: HEA SU: TNM


BN-EA -- AT010 -- 2311 08/21/92 17:24 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
Words:279
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