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HUMANA TO RECEIVE $248 MILLION FROM GALEN HEALTH CARE

 LOUISVILLE, Ky., Sept. 1 /PRNewswire/ -- Humana Inc. (NYSE: HUM) announced that it will receive accelerated cash payments of $248 million in full satisfaction of promissory notes due from Galen Health Care, Inc., which, effective today, has merged into Columbia Healthcare Corporation (NYSE: COL). The cash payments, which will be received by Sept. 13, will increase Humana's shareholders' equity to more than $800 million.
 On March 1, 1993, Humana separated its acute-care hospital and managed care health plan businesses into two independent publicly owned companies. After the separation, Humana operated the health plan business and Galen operated the hospital business. Galen had issued promissory notes to Humana in connection with the separation.
 Humana, based in Louisville, Ky., provides managed care health plan services to over 1.6 million members primarily through the operation of health maintenance organizations and preferred provider organizations.
 -0- 9/1/93
 /CONTACT: Laurie G. Scarborough of Humana, 502-580-1037/
 (HUM COL)


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


CM -- CH001 -- 7890 09/01/93 10:54 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:179
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