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SUMMIT HEALTH REPORTS INCREASES IN THIRD QUARTER AND NINE MONTH RESULTS; THIRD QUARTER EARNINGS PER SHARE UP 25 PERCENT

 BURBANK, Calif., April 19 /PRNewswire/ -- Summit Health Ltd. (NASDAQ: SUMH) today reported increases in the company's fiscal 1993 third quarter and first nine months ended March 31, 1993. Net revenue for the quarter rose eight percent to $131,340,000, compared to $121,774,000 recorded in the third quarter of fiscal 1992. Net income increased 34 percent to $5,135,000, or 15 cents per share, compared to $3,832,000, or 12 cents per share, during the third quarter of last year. Weighted average shares outstanding for the third quarter ending March 31, 1993 were 33,414,000 versus 32,435,000 for the same period ending March 31, 1992.
 For the nine-month period, net revenue rose nine percent to $384,019,000, compared to $351,775,000 recorded in the first nine months of fiscal 1992. Net income increased 43 percent to $13,972,000, or 41 cents per share, compared to $9,781,000, or 30 cents per share, during the nine month period last year. Weighted average shares outstanding for the nine months ending March 31, 1993 were 34,068,000, an increase of five percent above the 32,430,000 for the same period ending March 31, 1992.
 "Our integrated ambulatory strategies continue to show positive trends," stated Don Amaral, chief executive officer of Summit Health. "For the third quarter, outpatient surgeries grew 10 percent, outpatient visits rose nearly seven percent and emergency visits were up 10 percent, all on a 'same store' basis. Additionally, these results continue to reflect the strategic focus of our local markets' integrated provider health care delivery systems, which include a blending of physician practices and our provider services (hospitals, extended hours clinics, ambulatory surgery centers and satellite operations) delivering quality services at the lowest possible costs.
 "In keeping with our emphasis on cost management, our company's labor costs increased only 1.7 percent during the third quarter when compared to the prior year, and labor costs within the twelve operating hospitals were actually reduced by $300,000 during this year's three- month period," continued Amaral.
 "Also during the quarter, we entered into agreements to acquire six new surgery suites and two new urgent care centers in two separate geographical markets, San Luis Obispo, Calif. and Phoenix, Ariz. With the addition of these new facilities, we now have 68 surgery suites in the Summit Health system," concluded Amaral.
 Summit Health Ltd. provides quality health care services to niche markets through 12 acute care hospitals with 1,641 licensed beds and three free-standing outpatient surgery centers. Summit Health, through its subsidiary Health Choice Arizona, a Medicaid HMO, insures approximately 18,000 lives in the state of Arizona. Also, through its majority-owned Summit Care subsidiary, the company 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 per share data)
 Three Months Ended March 31,
 1993 1992
 Net revenues $ 131,340 $ 121,774
 Income from operations before
 minority interest 11,296 8,500
 Income before income taxes and
 minority interest 9,532 6,492
 Minority interest in net income
 of subsidiary 597 65
 Net income 5,135 3,832
 Earnings per share $0.15 $0.12
 Weighted average number of shares
 outstanding 33,414,197 32,434,754
 Nine Months Ended March 31,
 1993 1992
 Net revenues $ 384,019 $ 351,775
 Income from operations before
 minority interest 30,626 22,850
 Income before income taxes and
 minority interest 26,452 16,407
 Minority interest in net income
 of subsidiary 1,773 65
 Net income 13,972 9,781
 Earnings per share $0.41 $0.30
 Weighted average number of shares
 outstanding 34,067,517 32,430,207
 -0- 4/19/93
 /CONTACT: Doug Sherk or Ken Dennard, 415-296-7383; or David Walke, 212-986-5900, all of Morgen-Walke Associates for Summit Health/
 (SUMH)


CO: Summit Health Ltd. ST: California IN: HEA SU: ERN

TB-SG -- SF003 -- 7107 04/19/93 06:30 EDT
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Date:Apr 19, 1993
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