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PROVIDENCE HEALTH CARE, INC. ANNOUNCES PURCHASE OF COMMON STOCK

 BEREA, Ohio, Feb. 5 /PRNewswire/ -- Lawrence B. Cummings, president of Providence Health Care, Inc. (NASDAQ: PHCI), announced today that the company has completed the purchase of 216,850 shares of its common stock in a private transaction at a price of $4 per share. The purchase agreement was signed on Dec. 22, 1992, when the bid price for the company's stock was approximately $4 per share. Since the purchase was conducted as a private transaction, only a small administrative fee was required and brokerage commissions were avoided.
 Cummings stated that this purchase was consistent with the company's previously announced program to repurchase common stock but that no additional stock purchases were planned at this time.
 -0- 2/5/93
 /CONTACT: Lawrence B. Cummings, chairman, president and CEO of Providence Health Care, Inc., 216-243-4732/
 (PHCI)


CO: Providence Health Care, Inc. ST: Ohio IN: HEA SU:

KK -- CL028 -- 3741 02/05/93 17:35 EST
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Publication:PR Newswire
Date:Feb 5, 1993
Words:153
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