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HUMANA COMPLETES SPIN-OFF

 LOUISVILLE, Ky., March 2 /PRNewswire/ -- Humana Inc. (NYSE: HUM) announced that it has completed the separation of the company's hospital and health plan businesses into two publicly-traded companies. The separation became effective at the close of business on March 1, 1993.
 Stock certificates representing shares of the new hospital company, Galen Health Care, Inc. (NYSE: GHC), will be distributed on March 5, 1993. For each outstanding share of common stock of Humana Inc. owned of record at close of business on March 1, Humana shareholders will receive one share of Galen common stock.
 Currently the Galen common stock is trading on a "when-issued" basis on the New York Stock Exchange. It is anticipated that "regular way" trading in Humana and Galen stocks will begin on March 8.
 Humana Inc. operates the health plan business, which serves approximately 1.7 million members in its health plans for employer groups and Medicare beneficiaries. Galen Health Care, Inc. owns and operates 76 hospitals in the United States and Europe. Both companies are based in Louisville, Kentucky.
 -0- 3/2/93
 /CONTACT: Laurie G. Scarborough of Humana, 502-580-1037, or Richard A. Lechleiter of Galen Health Care, 502-572-2143/
 (HUM GHC)


CO: Humana Inc.; Galen Health Care, Inc. ST: Kentucky IN: HEA SU: TNM

CM -- CH005 -- 1855 03/02/93 10:19 EST
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Publication:PR Newswire
Date:Mar 2, 1993
Words:217
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