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RAMSAY HEALTH CARE, INC. OPERATING EARNINGS TO REMAIN SUBSTANTIALLY THE SAME IN FISCAL 1993

 RAMSAY HEALTH CARE, INC. OPERATING EARNINGS TO REMAIN
 SUBSTANTIALLY THE SAME IN FISCAL 1993
 NEW ORLEANS, Oct. 9 /PRNewswire/ -- Ramsay Health Care, Inc. (NASDAQ: RHCI) today announced that it expects operating earnings for the quarter ended Sept. 30, 1992 and fiscal year ending June 30, 1993 to be substantially the same as in fiscal 1992 (before giving effect to the special charges in relation to a discontinued operation discussed below). The company reported income before extraordinary items of $1.0 million in the quarter ended Sept. 30, 1991 and $5.3 million, which included a restructuring charge, in the year ended June 30, 1992.
 The company announced that it will not be exercising its purchase option on a hospital currently leased in Concord, Calif. Gregory H. Browne, president and CEO stated that "the hospital does not fit with the organization's strategic plan, although it performed up to expectations since the company took over operations in December 1991. The decision will result in a charge of up to $700,000 after applicable income taxes, or $0.09 per share, to be taken in the September quarter in relation to the discontinued operation."
 In relation to RHCI's quarterly results, Browne commented that "although the volume of patient days has fallen in the September quarter due to continued pressure on average lengths of stay, increased attention to costs and rapid expansion of partial hospital and other outpatient services has moderated the earnings impact of these trends. It is pleasing to report that outpatient revenue in the current fiscal year is running at around 8 percent of total revenue, almost doubling the figure of last year. We are also encouraged by the early trends from our free-standing psychiatric day hospital business."
 Ramsay Health Care, Inc. also announced that the company and the University of West Virginia Medical School, through their joint ventured Morgantown hospital, have been asked to manage the Weston State Hospital in West Virginia. Ramsay's relationship with the university (a state- financed institution) brings the best of both public and private resources to this project, and could become a major new business opportunity in the future.
 RHCI expects to release its September quarter results in the week commencing Nov. 2, 1992.
 -0- 10/9/92
 /CONTACT: Gregory H. Browne, president and chief executive officer of Ramsay Health Care, 504-525-2505/
 (RHCI) CO: Ramsay Health Care, Inc. ST: Louisiana IN: HEA SU: ERP


BR-TG -- AT004 -- 8215 10/09/92 09:01 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
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