Printer Friendly

INTEGRATED HEALTH SERVICES ANNOUNCES FILING OF CONVERTIBLE DEBENTURES

INTEGRATED HEALTH SERVICES ANNOUNCES FILING OF CONVERTIBLE DEBENTURES
 HUNT VALLEY, Md., Nov. 11 /PRNewswire/ -- Integrated Health Services, Inc. (NASDAQ: IHSI) announced today that it has filed a registration statement relating to the proposed sale by the company of $50,000,000 in convertible subordinated debentures due 2003 through Smith Barney, Harris Upham & Co. Incorporated and Kidder, Peabody & Company Incorporated. The company has granted the underwriters an option to purchase up to an additional $7,500,000 principal amount of debentures at the initial public offering less the underwriting discount to cover over allotments in the sale of the debentures.
 Net proceeds to the company will be used to repay certain indebtedness and for general corporate purposes, including working capital, financing the establishment of additional Medical Specialty Units (MSUs) in the company's existing facilities and for potential acquisitions.
 A registration statement relating to these debentures has been filed with the Securities and Exchange Commission but has not yet become effective. These debentures may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these debentures in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
 A prospectus relating to the offering will be available at the offices of Smith Barney, Harris Upham & Co. Incorporated, 1345 Avenue of the Americas, New York, N.Y. 10105.
 IHS uses geriatric care facilities as a platform for the company's Medical Specialty Unit (MSU) program which provides a wide range of subacute stage medical and rehabilitative services traditionally given in an acute care hospital. Patients who are medically stable but require sophisticated monitoring and therapy receive specialized care such as ventilator therapy, wound management and post-operative care. The MSU setting is both cost


effective and less institutional. IHS currently operates 55 geriatric care facilities nationwide with more than 7,200 beds including a 501 bed network of MSU beds in 26 specialized units.
 -0- 11/11/92
 /CONTACT: Robert N. Elkins, M.D., chairman, CEO and president of Integrated Health Services, Inc., 410-584-7050; or Susan A. Noonan of Noonan/Russo Communications, Inc., 212-979-9180, for Integrated Health Services/
 (IHSI) CO: Integrated Health Services, Inc. ST: Maryland IN: HEA SU:


PS-LR -- NY013 -- 9659 11/11/92 10:24 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1992
Words:412
Previous Article:UNO RESTAURANT CORPORATION REPORTS RESULTS
Next Article:TRANSCO, TENNECO GAS OFFER COMMON-ACCESS ELECTRONIC BULLETIN BOARD
Topics:


Related Articles
MEDIQ ANNOUNCES PLAN TO SPIN-OFF MENTAL HEALTH MANAGEMENT SUBSIDIARY
INTEGRATED HEALTH SERVICES ANNOUNCES FINANCING
INTEGRATED HEALTH SERVICES ANNOUNCES CLOSING OF FINANCING
INTEGRATED HEALTH SERVICES ANNOUNCES EFFECTIVENESS OF REGISTRATION STATEMENT TO PERMIT SECONDARY TRADING OF CONVERTIBLE DEBT
Convertible Debenture Financing
Integrated Health Services Completes Call of 6% Convertible Debentures
VSI Enterprises Buys Back Over $1 Million of Convertible Debentures.
VSI Retires Remaining Convertible Debentures.
Physicians Resource Group, Inc. Announces Developments Regarding 6% Convertible Subordinated Debentures.
Universal Health Services, Inc. Announces Terms of 144A Discounted Convertible Debentures.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters