EX-99.1
2
a5322710ex991.txt
IASIS HEALTHCARE EXHIBIT 99.1
Exhibit 99.1
IASIS Healthcare Completes Acquisition of Northeast Louisiana Hospital
FRANKLIN, Tenn.--(BUSINESS WIRE)--Feb. 1, 2007--IASIS Healthcare(R) LLC
("IASIS") today announced that it has completed its previously
announced acquisition of Glenwood Regional Medical Center, located in
West Monroe, Louisiana. The 242-bed hospital was purchased from the
Hospital Service District No. 1 for approximately $81.0 million,
subject to final net working capital and other purchase price
adjustments.
Commenting on the Company's acquisition, David White, chairman and
chief executive officer of IASIS, said, "We are very excited about the
completion of this transaction and about the potential we see in
Glenwood Regional Medical Center. The hospital has an excellent
reputation for providing quality healthcare. We expect to continue
that tradition by investing approximately $30 million in capital over
the next four years to further improve and expand the scope of
services provided by Glenwood. We believe these enhancements will mean
positive changes for the community, and we look forward to working
with Glenwood's excellent medical staff and employees to solidify our
position as a strong community leader".
IASIS, located in Franklin, Tennessee, is a leading owner and
operator of medium-sized acute care hospitals in high-growth urban and
suburban markets. The Company operates its hospitals with a strong
community focus by offering and developing healthcare services
targeted to the needs of the markets it serves, promoting strong
relationships with physicians and working with local managed care
plans. With the addition of Glenwood Regional Medical Center, IASIS
owns or leases 15 acute care hospitals and one behavioral health
hospital with a total of 2,448 beds in service and has total annual
net revenue of approximately $1.7 billion. These hospitals are located
in six regions: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St.
Petersburg, Florida; three cities in Texas, including San Antonio; Las
Vegas, Nevada; and West Monroe, Louisiana. IASIS is currently
constructing Mountain Vista Medical Center, a new 172-bed hospital
located in Mesa, Arizona. IASIS also owns and operates a Medicaid and
Medicare managed health plan in Phoenix that serves over 115,600
members. For more information on IASIS, please visit the Company's
website at www.iasishealthcare.com.
Some of the statements we make in this press release are
forward-looking within the meaning of the federal securities laws,
which are intended to be covered by the safe harbors created thereby.
Those forward-looking statements include all statements that are not
historical statements of fact and those regarding our intent, belief
or expectations including, but not limited to, the discussions of our
operating and growth strategy (including possible acquisitions and
dispositions), financing needs, projections of revenue, income or
loss, capital expenditures and future operations. Forward-looking
statements involve known and unknown risks and uncertainties that may
cause actual results in future periods to differ materially from those
anticipated in the forward-looking statements. Those risks and
uncertainties include, among others, the risks and uncertainties
related to our ability to generate sufficient cash to service our
existing indebtedness, our substantial level of indebtedness that
could adversely affect our financial condition, our ability to retain
and negotiate favorable contracts with managed care plans, changes in
legislation that may significantly reduce government healthcare
spending and our revenue, our hospitals' competition for patients from
other hospitals and healthcare providers, our hospitals facing a
growth in bad debts resulting from increased self-pay volume and
revenue, our ability to recruit and retain quality physicians, our
hospitals' competition for staffing which may increase our labor costs
and reduce profitability, our failure to consistently enhance our
hospitals with the most recent technological advances in diagnostic
and surgical equipment that would adversely affect our ability to
maintain and expand our markets, our failure to comply with extensive
laws and government regulations, the outcome of (and expenses incurred
in connection with) an ongoing OIG investigation, the possibility that
we may become subject to federal and state investigations in the
future, our ability to satisfy regulatory requirements with respect to
our internal controls over financial reporting under Section 404 of
the Sarbanes-Oxley Act of 2002, a failure of our information systems
that would adversely affect our ability to properly manage our
operations, an economic downturn or other material change in any one
of the regions in which we operate, potential liabilities because of
claims brought against our facilities, increasing insurance costs that
may reduce our cash flows, the impact of certain factors, including
severe weather conditions and natural disasters, on our revenue and
volume trends at our hospitals, continuing uncertainty relating to
insurance claims made by us, and the total remediation costs, for The
Medical Center of Southeast Texas stemming from Hurricane Rita, our
ability to control costs at Health Choice, the possibility of Health
Choice's contract with the Arizona Health Care Cost Containment System
being discontinued or experiencing materially reduced reimbursements,
the possibility that Health Choice's contract with the Centers for
Medicare & Medicaid Services to be a Medicare Advantage Prescription
Drug Special Needs Plan may result in reduced profitability,
significant competition from other healthcare companies and state
efforts to regulate the sale of not-for-profit hospitals that may
affect our ability to acquire hospitals, difficulties with the
integration of acquisitions that may disrupt our ongoing operations,
difficulties with construction of our new hospital that may require
unanticipated capital expenditures, the significant capital
expenditures that would be involved in the construction of other new
hospitals that could have an adverse effect on our liquidity, the
rising costs for construction materials and labor that could have an
adverse impact on the return on investment relating to our new
hospital and other expansion projects, state efforts to regulate the
construction or expansion of hospitals that could impair our ability
to operate and expand our operations, our dependence on key personnel,
the loss of one or more of which could have a material adverse effect
on our business, potential responsibilities and costs under
environmental laws that could lead to material expenditures or
liability, the possibility of a decline in the fair value of our
reporting units that could result in a material non-cash change to
earnings and those risks, uncertainties and other matters detailed in
the Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2006.
Although we believe that the assumptions underlying the
forward-looking statements contained in this press release are
reasonable, any of these assumptions could prove to be inaccurate,
and, therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be accurate.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, you should not regard the
inclusion of such information as a representation by the Company or
any other person that our objectives and plans will be achieved. We
undertake no obligation to publicly release any revisions to any
forward-looking statements contained herein to reflect events and
circumstances occurring after the date hereof or to reflect the
occurrence of unanticipated events.
CONTACT: IASIS Healthcare
Investor contact:
Chief Financial Officer
W. Carl Whitmer, 615-844-2747
or
News media contact:
Vice-President, Marketing & Communications
Tomi Galin, 615-467-1255

EX - 99 . 1 2 a5322710ex991 . txt IASIS HEALTHCARE EXHIBIT 99 . 1 Exhibit 99 . 1 IASIS Healthcare Completes Acquisition of Northeast Louisiana Hospital FRANKLIN , Tenn . -- ( BUSINESS WIRE ) -- Feb. 1 , 2007 -- IASIS Healthcare ( R ) LLC ( " IASIS " ) today announced that it has completed its previously announced acquisition of Glenwood Regional Medical Center , located in West Monroe , Louisiana . The 242 - bed hospital was purchased from the Hospital Service District No . 1 for approximately $ 81.0 million , subject to final net working capital and other purchase price adjustments . Commenting on the Company 's acquisition , David White , chairman and chief executive officer of IASIS , said , " We are very excited about the completion of this transaction and about the potential we see in Glenwood Regional Medical Center . The hospital has an excellent reputation for providing quality healthcare . We expect to continue that tradition by investing approximately $ 30 million in capital over the next four years to further improve and expand the scope of services provided by Glenwood . We believe these enhancements will mean positive changes for the community , and we look forward to working with Glenwood 's excellent medical staff and employees to solidify our position as a strong community leader " . IASIS , located in Franklin , Tennessee , is a leading owner and operator of medium - sized acute care hospitals in high - growth urban and suburban markets . The Company operates its hospitals with a strong community focus by offering and developing healthcare services targeted to the needs of the markets it serves , promoting strong relationships with physicians and working with local managed care plans . With the addition of Glenwood Regional Medical Center , IASIS owns or leases 15 acute care hospitals and one behavioral health hospital with a total of 2,448 beds in service and has total annual net revenue of approximately $ 1.7 billion . These hospitals are located in six regions : Salt Lake City , Utah ; Phoenix , Arizona ; Tampa - St . Petersburg , Florida ; three cities in Texas , including San Antonio ; Las Vegas , Nevada ; and West Monroe , Louisiana . IASIS is currently constructing Mountain Vista Medical Center , a new 172 - bed hospital located in Mesa , Arizona . IASIS also owns and operates a Medicaid and Medicare managed health plan in Phoenix that serves over 115,600 members . For more information on IASIS , please visit the Company 's website at www.iasishealthcare.com . Some of the statements we make in this press release are forward - looking within the meaning of the federal securities laws , which are intended to be covered by the safe harbors created thereby . Those forward - looking statements include all statements that are not historical statements of fact and those regarding our intent , belief or expectations including , but not limited to , the discussions of our operating and growth strategy ( including possible acquisitions and dispositions ) , financing needs , projections of revenue , income or loss , capital expenditures and future operations . Forward - looking statements involve known and unknown risks and uncertainties that may cause actual results in future periods to differ materially from those anticipated in the forward - looking statements . Those risks and uncertainties include , among others , the risks and uncertainties related to our ability to generate sufficient cash to service our existing indebtedness , our substantial level of indebtedness that could adversely affect our financial condition , our ability to retain and negotiate favorable contracts with managed care plans , changes in legislation that may significantly reduce government healthcare spending and our revenue , our hospitals ' competition for patients from other hospitals and healthcare providers , our hospitals facing a growth in bad debts resulting from increased self - pay volume and revenue , our ability to recruit and retain quality physicians , our hospitals ' competition for staffing which may increase our labor costs and reduce profitability , our failure to consistently enhance our hospitals with the most recent technological advances in diagnostic and surgical equipment that would adversely affect our ability to maintain and expand our markets , our failure to comply with extensive laws and government regulations , the outcome of ( and expenses incurred in connection with ) an ongoing OIG investigation , the possibility that we may become subject to federal and state investigations in the future , our ability to satisfy regulatory requirements with respect to our internal controls over financial reporting under Section 404 of the Sarbanes - Oxley Act of 2002 , a failure of our information systems that would adversely affect our ability to properly manage our operations , an economic downturn or other material change in any one of the regions in which we operate , potential liabilities because of claims brought against our facilities , increasing insurance costs that may reduce our cash flows , the impact of certain factors , including severe weather conditions and natural disasters , on our revenue and volume trends at our hospitals , continuing uncertainty relating to insurance claims made by us , and the total remediation costs , for The Medical Center of Southeast Texas stemming from Hurricane Rita , our ability to control costs at Health Choice , the possibility of Health Choice 's contract with the Arizona Health Care Cost Containment System being discontinued or experiencing materially reduced reimbursements , the possibility that Health Choice 's contract with the Centers for Medicare & Medicaid Services to be a Medicare Advantage Prescription Drug Special Needs Plan may result in reduced profitability , significant competition from other healthcare companies and state efforts to regulate the sale of not - for - profit hospitals that may affect our ability to acquire hospitals , difficulties with the integration of acquisitions that may disrupt our ongoing operations , difficulties with construction of our new hospital that may require unanticipated capital expenditures , the significant capital expenditures that would be involved in the construction of other new hospitals that could have an adverse effect on our liquidity , the rising costs for construction materials and labor that could have an adverse impact on the return on investment relating to our new hospital and other expansion projects , state efforts to regulate the construction or expansion of hospitals that could impair our ability to operate and expand our operations , our dependence on key personnel , the loss of one or more of which could have a material adverse effect on our business , potential responsibilities and costs under environmental laws that could lead to material expenditures or liability , the possibility of a decline in the fair value of our reporting units that could result in a material non - cash change to earnings and those risks , uncertainties and other matters detailed in the Company 's Annual Report on Form 10 - K for the fiscal year ended September 30 , 2006 . Although we believe that the assumptions underlying the forward - looking statements contained in this press release are reasonable , any of these assumptions could prove to be inaccurate , and , therefore , there can be no assurance that the forward - looking statements included in this press release will prove to be accurate . In light of the significant uncertainties inherent in the forward - looking statements included herein , you should not regard the inclusion of such information as a representation by the Company or any other person that our objectives and plans will be achieved . We undertake no obligation to publicly release any revisions to any forward - looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events . CONTACT : IASIS Healthcare Investor contact : Chief Financial Officer W . Carl Whitmer , 615 - 844 - 2747 or News media contact : Vice - President , Marketing & Communications Tomi Galin , 615 - 467 - 1255