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HORIZON HEALTHCARE COMMENTS ON MARKET ACTIVITY

 HORIZON HEALTHCARE COMMENTS ON MARKET ACTIVITY
 ALBUQUERQUE, N.M., Jan. 9 /PRNewswire/ -- In view of the unusual


market activity of Horizon Healthcare Corp. (NYSE: HHC) stock, the New York Stock Exchange (NYSE) has contacted the company and request that Horizon Healthcare issue a public statement indicating any corporate developments which may explain the unusual activity.
 Commenting on the formal request, Horizon's Chairman and CEO, Neal Elliott, stated, "The company is not aware of any corporate developments that would account for this activity. However, within a few days the company intends to file a registration statement with the Securities and Exchange Commission for a public offering of $40,000,000 in Convertible Subordinated Notes."
 The net proceeds to the company from the sale of the notes in the offering will be used to repay outstanding indebtedness, to fund future acquisitions, and for general corporate purposes.
 Horizon Healthcare operates long-term care centers principally in Ohio, New Mexico, and Nevada and provides a broad range of health care services, including nursing care, specialty care to Alzheimer's patients, and subacute care. As of Jan. 2, 1992, the company operated 60 long-term care centers in seven states with approximately 6,000 licensed beds.
 -0- 1/9/92
 /CONTACT: Michael H. Seeliger of Horizon Healthcare, 505-881-4961/
 (HHC) CO: Horizon Healthcare Corp. ST: New Mexico IN: HEA SU:


BB -- DV001 -- 8454 01/09/92 17:58 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 9, 1992
Words:230
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