SUMMIT HEALTH SUBSIDIARY REFILES INITIAL PUBLIC OFFERING
SUMMIT HEALTH SUBSIDIARY REFILES INITIAL PUBLIC OFFERING BURBANK, Calif., Feb. 10 /PRNewswire/ -- Summit Health Ltd.
(NASDAQ: SUMH) today announced that its wholly owned subsidiary, Summit Care Corporation, has filed a registration statement with the Securities and Exchange Commission for an initial public of 2,100,000 shares of its common stock at an anticipated offering price of $9 to $11 per share.
Upon completion of the offering, Summit Health Ltd. will continue to own approximately 56 percent of the outstanding shares of Summit Care Corporation. Dillion, Read & Co. Inc. and Ledenburg, Thalmann & Co. Inc. are the co-managing underwriters of this public offering. Summit Health Ltd. owns and manages hospitals and medical service operations in California, Arizona, Texas and Iowa. Summit Care Corporation, based Burbank, provides a variety of health care services primarily to the elderly through the operation of 17 skilled nursing care centers and four retirement centers in California and Texas. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any state in which such offer, solicitation or sale would be unlawful prior the registration or qualification under the securities laws of any such state. Written prospectuses may be obtained from Dillion, Read & Co. Inc, 535 Madison Ave., New York, N.Y. 10022. Telephone: 212-906-7000 or Ladenburg, Thalmann & Co. Inc., 540 Madison Ave., New York, N.Y. 10022. Telephone: 940-0100. -0- 2/10/92 /CONTACT: Daniel Saks of Summit Health, 210-839-4868/ (SUMH) CO: Summit Health Ltd. ST: California IN: HEA SU: OFR
SM-TS -- NY013 -- 8108 02/10/92 08:11 EST
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|Date:||Feb 10, 1992|
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