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REPUBLIC HEALTH NAMES MARTIN CHAIRMAN AND CEO

 REPUBLIC HEALTH NAMES MARTIN CHAIRMAN AND CEO
 DALLAS, Jan. 15 /PRNewswire/ -- Republic Health Corporation


(NASDAQ: REPH) today announced that its board of directors had elected Charles N. Martin, Jr., the former president and chief operating officer of Healthtrust Inc., its new chairman and chief executive officer.
 The company also announced that it had entered into a five-year employment agreement with Martin. Martin is buying one million restricted shares of common stock for $7.75 million and has been granted an option to buy 750,000 additional shares at $10.75 per share. Republic's board also adopted a management equity plan for senior management authorizing the grant of options to purchase up to 4.4 million common shares at the greater of market or $20 per share, which options become exercisable in tranches when the price of Republic's common stock exceeds certain price levels ranging from $30 to $70 per share.
 Republic said its 1992 annual meeting of shareholders is scheduled to be held on April 14, 1992, and the close of business on Feb. 20, 1992, has been fixed as the record date for the meeting. At that meeting, shareholders will be asked to approve certain aspects of the arrangement with Martin as well as the Management Equity Plan. Joseph Littlejohn & Levy Fund, L.P., Republic Health's largest shareholder, has agreed to vote its stock in favor of these matters.
 Paul S. Levy, a director of Republic and general partner of JLL, said: "We are delighted to have been able to attract to Republic an executive of Charlie's stature and experience within the healthcare industry. With an excellent balance sheet and Charlie at the helm, Republic is now poised to take advantage of the tremendous opportunities in this field."
 Martin said: "Hospital expenditures continue to be the largest component of national health care. Republic's existing hospitals represent a solid base from which to acquire and develop additional hospitals and build a major healthcare network. Our commitment to high quality, cost-effective services utilizes each hospital as the hub of the local delivery of health care services thereby enabling the company to continue meeting the healthcare needs of the communities it serves."
 Martin, 49, was one of the founders of Healthtrust, a hospital company that was formed in 1987 to operate a group of 104 acute care hospitals acquired from Hospital Corporation of America (HCA). He was president and CEO of the company until October 1991. For seven years prior to starting Healthtrust, Martin held a number of positions at HCA. During his final two years at the company he was executive vice president of marketing and development. In 1987, he was elected to the HCA board. Before joining HCA, Martin was president and chief operating officer of General Care Corporation.
 Brian Marsal has resigned as chairman and CEO. In a statement, the board of directors expressed appreciation to Marsal. "Brian Marsal played an important role in guiding Republic Health during its restructurings and helped bring the company to its current position in the industry," the board said.
 Republic said that Marsal remains a director of the company.
 Republic Health owns and operates 11 acute care hospitals with 2,543 licensed beds, three surgery centers, and a physician group clinic. Revenues for fiscal year 1991 were $467 million.
 -0- 1/15/92
 /CONTACT: Peter Rosenthal of Howard J. Rubenstein Associates, 212-489-6900, for Republic Health/
 (REPH) CO: Republic Health Corporation ST: Texas IN: HEA SU: PER


GK-KW -- NY061 -- 0064 01/15/92 14:09 EST
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Date:Jan 15, 1992
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