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SUMMIT HEALTH REPORTS INCREASES IN FISCAL YEAR END RESULTS

 SUMMIT HEALTH REPORTS INCREASES IN FISCAL YEAR END RESULTS
 BURBANK, Calif., Aug. 18 /PRNewswire/ -- Summit Health Ltd. (NASDAQ: SUMH) today reported increases in the company's fiscal 1992 fourth quarter and year end results.
 Income before extraordinary charges increased 80 percent to $12,943,000, or 40 cents per share for the year ended June 30, 1992, compared to income of $7,185,000, or 23 cents per share in fiscal year 1991. Revenues in fiscal year 1992 increased to $452,319,000, a gain of 15 percent over prior year revenues of $392,278,000. The company also reported extraordinary charges in the fourth quarter of $1.8 million, net of taxes, resulting from the early retirement of long-term debt. As a result of the full write-off of capitalized bond issuance costs, income, net of extraordinary charges, amounted to $11,164,000 or 34 cents per share.
 Fourth quarter 1992 income before extraordinary charges was $3,162,000 or 10 cents per share, on revenues of $112,077,000, compared to a prior year income of $1,867,000, or 6 cents per share, on revenues of $102,341,000.
 "Summit Health's strong operating performance in fiscal 1992 was due to the company's local market focus," said Don Amaral, chief executive officer of Summit Health. "In particular, four areas were outstanding; strong physician recruitment, strong gains in managed care contracting, growth in ambulatory ancillary programs and terrific growth in outpatient surgeries."
 "Over the past few years, we have strategically evolved our facilities from being acute care providers to becoming 'surgical centers with beds,' with a particular focus on managed care," continued Amaral. "As a result, revenues from outpatient operation increased 29 percent, outpatient visits rose 17 percent, and outpatient surgeries increased 15 percent for the fiscal year."
 Summit Health Ltd. provides high quality health care services to niche markets through 12 acute care hospitals with 1,648 licensed beds and 56 surgery suites. Through its majority-owned Summit Care subsidiary (NASDAQ: SUMC), the company also provides health care services to the elderly through 17 skilled nursing centers with 2,228 licensed beds and four retirement centers with 468 beds. The company's facilities are located in California, Arizona, Texas and Iowa.
 Summit Health Ltd.
 Consolidated Operating Results
 (In millions, except share data)
 Three Months Ended Twelve Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net revenues $112.1 $102.3 $452.3 $392.3
 Income from
 operations 7.1 5.9 29.9 22.8
 Income before
 income taxes and
 extraordinary item 5.3 3.0 21.6 11.9
 Net income before
 extraordinary item 3.2 1.9 12.9 7.2
 Extraordinary item,
 net of taxes(i) 1.8 --- 1.8 ---
 Net income 1.4 1.9 11.2 7.2
 Earnings per share
 before extraordinary
 item $0.10 $0.06 $0.40 $0.23
 Extraordinary item,
 net of taxes(i) (0.06) --- (0.06) ---
 Earnings per share 0.04 0.06 0.34 0.23
 Average number of
 shares
 outstanding 32,506,975 31,252,000 32,501,588 31,251,000 (i) full write-off of capitalized bond issuance costs
 -0- 8/18/92
 /CONTACT: Doug Sherk or Ken Dennard, 415-296-7383; or Robert Borchert, 212-986-5900, all of Morgen-Walke Associates for Summit Health/
 (SUMH SUMC) CO: Summit Health Ltd. ST: California IN: HEA SU: ERN


TB -- SF001 -- 0741 08/18/92 06:30 EDT
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Date:Aug 18, 1992
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