Public Company Information:
HCA (NYSE: HCA) today announced completion of the sale of five rural hospitals in Louisiana, Oklahoma, Tennessee and Washington to Capella Healthcare for approximately $260 million.
The facilities involved in today's transaction include Grandview Medical Center, Jasper, Tenn.; River Park Hospital, McMinnville, Tenn.; Southwestern Medical Center, Lawton, Okla. and Capital Medical Center, Olympia, Wash. Sale of the fifth hospital, North Monroe Medical Center, Monroe, La. was completed on Oct. 31, 2005.
These facilities are part of a previously announced divestiture of hospitals located primarily in rural and non urban markets. The company's remaining hospitals are primarily located in larger urban and suburban areas. As previously announced, the company expects to record a gain of approximately $.05 per diluted share during the fourth quarter of 2005 on the sale of the five hospitals to Capella.
HCA believes the divestitures will not have a material effect on its future financial position or results of operations.
This press release contains forward-looking statements based on current management expectations. Those forward-looking statements include all statements other than those made solely with respect to historical fact, including those relating to the results of the divestiture of the hospitals to Capella, the anticipated use of proceeds from the divestitures, and the anticipated impact of the divestitures on the Company's financial statements and results of operations. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward- looking statements. These factors include, but are not limited to the ability of the Company to smoothly transition the divested hospitals and other risk factors detailed in the Company's filings with the SEC. Many of the factors that will determine the Company's future results are beyond the ability of the Company to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
All references to "Company" and "HCA" in this press release refer to HCA Inc. and its affiliates. All references to "hospitals" or "facilities" in this press release refer to hospitals owned by HCA or its affiliates prior to the completion of the divestitures.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding HCA's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
Investors, Mark Kimbrough, +1-615-344-2688, or
Media, Jeff Prescott, +1-615-344-5708,
both of HCA