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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
April 4, 2000 (March 30, 2000)
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PROVINCE HEALTHCARE COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 0-23639 62-1710772
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification
Number)
105 WESTWOOD PLACE
SUITE 400
BRENTWOOD, TENNESSEE 37027
(Address of principal executive offices) (Zip Code)
(615) 370-1377
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On April 3, 2000, Province Healthcare Company (the "Company"),
announced that it had entered into a long-term lease agreement with Bolivar
County, Mississippi (the "Lease Agreement"), pursuant to which a wholly-owned
subsidiary of the Company will lease the property and assets which comprise the
business of Bolivar Medical Center, located in Cleveland, Mississippi (the
"Hospital"). The closing of the transaction, which is currently scheduled for
April 14, 2000, is subject to customary closing conditions, including receipt of
regulatory approvals. Under the Lease Agreement, dated March 30, 2000, the
Company will acquire the Hospital through a 40-year lease with prepaid rent of
$26.4 million. The Lease term will commence on April 15, 2000 and expire on
April 14, 2040.
The Hospital which is licensed for 141 acute care beds, 24 skilled
nursing beds and 35 long-term care beds, is the only hospital in a community
with a service area population of approximately 55,000 and has annual revenues
of approximately $30 million.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
99.1 Copy of the press release, dated April 3, 2000, relating
to the Company's execution of a long-term lease of Bolivar
Medical Center.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PROVINCE HEALTHCARE COMPANY
By: /s/ Brenda B. Rector
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Brenda B. Rector
Vice President and Controller
Date: April 4, 2000