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NATIONAL HEALTH CARE SYSTEMS INC. SETS DECEMBER CLOSING DATE FOR ACQUISITIONS

 NATIONAL HEALTH CARE SYSTEMS INC. SETS
 DECEMBER CLOSING DATE FOR ACQUISITIONS
 LAGUNA NIGUEL, Calif., Nov. 25 /PRNewswire/ -- National Health Care Systems Inc. (NASDAQ: NHCS) announced today that the proposed merger of NHCS with a wholly-owned subsidiary of Foundation Health Corp. had been approved by a vote of more than 71 percent of the NHCS shareholders, with only 0.2 percent voting against the merger.
 National Health Care and Foundation intend to close the merger on Dec. 27, 1991, after expiration of a 30-day statutory period in which shareholders who did not vote for the merger can exercise dissenters' rights. The closing is subject to conditions including that the transaction be treated for accounting purposes as a pooling of interests.
 Under accounting rules, if more than 10 percent of the NHCS shareholders exercise dissenters' rights, the transaction could not be accounted for as a pooling. In addition, the closing is subject to the condition that the average closing sales price of Foundation common stock be at or above $24.00 per share for the 10 trading days immediately prior to the closing date.
 -0- 11/25/91
 /CONTACT: Dr. Carl E. Bozzo, chairman and chief executive officer, National Health Care Systems Inc., 714-365-8010, ext. 215, or Shannon T. Squyres of Corporate Relations Group, 714-955-1860, for National Health Care Systems/
 (NHCS) CO: National Health Care Systems Inc. ST: California IN: HEA SU: TNM


BB-AL -- LA039 -- 7093 11/25/91 18:43 EST
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Publication:PR Newswire
Date:Nov 25, 1991
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