EXHIBIT 20
[LOGO OF COLUMBIA/HCA APPEARS HERE] NEWS
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FOR IMMEDIATE RELEASE
INVESTOR CONTACT: MEDIA CONTACT:
MARK KIMBROUGH (615)344-2688 JEFF PRESCOTT (615)344-5708
COLUMBIA/HCA FILES FORM 10 REGISTRATION WITH SEC ON PROPOSED SPIN-OFFS
SPIN-OFFS TO BE NAMED LIFEPOINT HOSPITALS, INC. AND TRIAD HOSPITALS, INC.
NASHVILLE, TENNESSEE, DECEMBER 14, 1998 --- Columbia/HCA Healthcare Corporation
(NYSE: COL) today announced that it has filed with the Securities and Exchange
Commission the Form 10 Registration Statements related to the proposed tax free
spin-off to Columbia/HCA shareholders of LifePoint Hospitals, Inc. and Triad
Hospitals, Inc., formerly known as the America and Pacific Groups,
respectively.
In August, the Company filed a ruling request with the Internal Revenue
Service requesting approval for tax free spin-offs of the two hospital groups.
LifePoint is currently comprised of 22 non-urban hospitals, and 1 non-
consolidating joint venture with revenues for the nine months ended September
30, 1998 of approximately $366 million. LifePoint hospitals are located in non-
urban areas in the states of Alabama, Florida, Georgia, Kansas, Kentucky,
Louisiana, Tennessee, Utah and Wyoming.
Triad is currently comprised of 42 hospitals, 1 non-consolidating joint
venture and 19 surgery centers with revenues for the nine months ended
September 30, 1998 of approximately $1.4 billion. Triad hospitals are primarily
located in the Southwestern United States, with approximately three-quarters of
Triad's hospitals located in small cities. The remainder of Triad's hospitals
are located in larger urban areas. Triad hospitals are located in the states of
Alabama, Arizona, Arkansas, California, Kansas, Louisiana, Missouri, New Mexico,
Oklahoma, Oregon and Texas.
Subject to final approval from the Internal Revenue Service and various
regulatory approvals, the Company anticipates that the spin-offs could be
completed by the end of the first quarter or early during the second quarter of
1999.
* * *
This press release contains forward-looking statements based on current
management expectations. Numerous factors exist which may cause results to
differ materially from those anticipated in the forward-looking statements.
Many of the factors that will determine the Company's future results are beyond
the ability of the Company to control or predict. These statements are subject
to risks and uncertainties and, therefore, actual results may differ materially.
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. Readers should also carefully review the risk factors and
uncertainties as detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
All references to `Columbia/HCA' or `Company' refer to Columbia/HCA Healthcare
Corporation and/or its affiliates, as applicable.
LIFEPOINT HOSPITALS
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FACILITY NAME CITY STATE LICENSED BEDS
Andalusia Regional Hospital Andalusia AL 101
Bartow Memorial Hospital (1) Bartow FL 56
Barrow Medical Center Winder GA 60
Western Plains Regional Hospital (2) Dodge City KS 110
Halstead Hospital Halstead KS 177
Georgetown Community Hospital Georgetown KY 75
Pine Lake Regional Hospital Mayfield KY 106
Meadowview Regional Medical Center Maysville KY 111
Bourbon Community Hospital Paris KY 58
Logan Memorial Hospital Russellville KY 100
Lake Cumberland Regional Hospital Somerset KY 227
Riverview Medical Center Gonzales LA 104
Springhill Medical Center Springhill LA 63
Smith County Memorial Hospital Carthage TN 63
Trinity Hospital Erin TN 40
Crockett General Hospital Lawrenceburg TN 107
Livingston Regional Hospital Livingston TN 116
Hillside Hospital Pulaski TN 95
Emerald-Hodgson Hospital Sewanee TN 24
Southern Tennessee Medical Center Winchester TN 126
Castleview Hospital Price UT 84
Ashley Valley Medical Center Vernal UT 39
Riverton Memorial Hospital Riverton WY 70
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(1) LifePoint manages this hospital and holds a minority equity interest in a
non-consolidated joint venture that is building a replacement hospital for
the Bartow Memorial Hospital.
(2) LifePoint holds a majority equity interest in a consolidated joint venture
which owns Western Plains Regional Hospital.
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TRIAD HOSPITALS
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FACILITY CITY STATE LICENSED BEDS
Crestwood Medical Center Huntsville AL 120
DeQueen Regional Medical Center DeQueen AR 122
Medical Center of South Arkansas (1) El Dorado AR 360
Medical Park Hospital Hope AR 91
Medical Center - Phoenix Phoenix AZ 290
Paradise Valley Hospital Phoenix AZ 143
El Dorado Hospital Tucson AZ 166
Northwest Medical Center Tucson AZ 174
Paradise Valley Psychiatric Services Scottsdale AZ 19
San Leandro Hospital San Leandro CA 136
West Anaheim Community Hospital Anaheim CA 219
Healdsburg General Hospital Healdsburg CA** 43
Huntington Beach Hospital Huntington Beach CA 134
Mission Bay Hospital San Diego CA 128
Palm Drive Hospital Sebastopol CA* 49
Bethany Medical Center Kansas City KS* 415
Overland Park Regional Medical Center Overland Park KS* 360
Women & Children's Hospital Lake Charles LA 80
Independence Regional Health Center Independence MO* 366
Research Psychiatric Center (2) Kansas City MO* 100
Medical Center of Carlsbad Carlsbad NM 135
Lea Regional Hospital Hobbs NM 250
Claremore Regional Hospital Claremore OK 89
Wagoner Community Hospital (3) Wagoner OK 100
Doctors Hospital - Tulsa Tulsa OK* 199
Tulsa Regional Medical Center Tulsa OK* 462
Willamette Valley Medical Center McMinnville OR 80
Douglas Medical Center Roseburg OR 118
Alice Physicians and Surgeons Hospital Alice TX 131
Brownwood Regional Medical Center (3) Brownwood TX 218
College Station Medical Center College Station TX 119
Navarro Regional Hospital Corsicana TX 168
Doctors Hospital of Laredo Laredo TX 117
Longview Regional Medical Center Longview TX 164
Woodland Heights Medical Center Lufkin TX 127
Medical Center of Pampa Pampa TX 107
San Angelo Community Medical Center San Angelo TX 165
Community Medical Center - Sherman Sherman TX 160
Medical Center at Terrell (3) Terrell TX 130
Detar Hospital Victoria TX 217
Gulf Coast Medical Center Wharton TX 161
Beaumont Regional Medical Center Beaumont TX* 366
Silsbee Doctors Hospital Silsbee TX* 69
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* Indicates facility held for sale.
** Indicates facility sold in November 1998.
(1) Triad holds a fifty percent equity interest in a non-consolidated joint
venture which owns the Medical Center of S. Ark.
(2) Triad holds a sixty percent equity interest in a consolidated joint venture
which owns the Research Psychiatric Center.
(3) Triad currently leases each of these hospitals.
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