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QUORUM ANNOUNCES AGREEMENT TO PURCHASE 10 HOSPITALS FROM CHARTER MEDICAL

 NASHVILLE, Tenn., Aug. 9 /PRNewswire/ -- Quorum Health Group, Inc., and Charter Medical Corporation (AMEX: CMD) reached an agreement in principle on Aug. 6 for an affiliate of Quorum Health Group to purchase the stock of Charter's subsidiaries that own 10 acute care hospitals and related assets for $340 million.
 The announcement was made by James E. Dalton Jr., president and chief executive officer of Quorum. The purchase price is payable $335 million in cash and $5 million by a seven-year note. The purchase is subject to the signing of a definitive purchase agreement with customary closing conditions. Quorum intends to finance the acquisition with additional equity and expansion of its current credit facility.
 The 10 hospitals, with a total of 1,421 licensed beds, are located in Georgia, Louisiana, Texas, Nevada, California, Iowa and Virginia. Land, buildings and equipment associated with eight of the hospitals will be purchased. The remaining two hospitals are leased facilities.
 "This proposed purchase represents a major milestone for Quorum and is consistent with Quorum's long-stated goal to grow the company," said Dalton. "These hospitals are valued members of their respective communities, and we look forward to working with them as they continue their commitment to and tradition of delivering quality, cost-efficient healthcare services."
 The hospitals included in the proposed purchase by Quorum Health Group from Charter Medical are:
 NAME LICENSED BEDS LOCATION
 Charter Northside Hospital 103 Macon, Ga.
 Middle Georgia Hospital 119 Macon, Ga.
 Shallowford Community Hospital 168 Atlanta
 Metropolitan Hospital (leased) 64 Atlanta
 Physicians & Surgeons Hospital 183 Shreveport, La.
 Charter Regional Medical Center 104 Cleveland, Texas
 Desert Springs Hospital 225 Las Vegas
 Charter Suburban Hospital (leased) 184 Paramount, Calif.
 Charter Community Hospital of
 Des Moines 118 Des Moines, Iowa
 Stuart Circle Hospital 153 Richmond, Va.
 TOTAL LICENSED BEDS 1,421
 Quorum Health Group, Inc., is a privately held firm that owns and operates acute care hospitals. In December 1992, Quorum Health Group issued $100 million in senior subordinated notes maturing in 2002. Quorum Health Resources, Inc., a subsidiary, is the nation's largest hospital management company, with client hospitals throughout the United States.
 -0- 8/9/93
 /CONTACT: Sandy Anthony, 615-340-5737, or Mike Wiley, 615-340-5735, both of Quorum Health Group/
 (CMD)


CO: Quorum Health Group, Inc.; Charter Medical Corporation ST: Tennessee, Georgia IN: HEA SU: TNM

BN-TG -- AT008 -- 0654 08/09/93 09:51 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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