EXHIBIT 99.2
(IASIS HEALTHCARE(R) LOGO)
INVESTOR CONTACT: NEWS MEDIA CONTACT:
David R. White Tomi Galin
Chairman and Chief Executive Officer Vice-President, Marketing
or & Communications
W. Carl Whitmer (615) 467-1255
Chief Financial Officer
(615) 844-2747
IASIS HEALTHCARE CORPORATION ANNOUNCES COMPLETION OF TENDER
OFFER FOR ITS 13% SENIOR SUBORDINATED NOTES DUE 2009
AND 8-1/2% SENIOR SUBORDINATED NOTES DUE 2009
FRANKLIN, Tennessee (June 22, 2004) -- IASIS Healthcare(R) Corporation ("IASIS")
today announced the completion of its previously announced cash tender offer and
consent solicitation (the "Offer") for any and all of its $230.0 million
aggregate principal amount of 13% Senior Subordinated Notes due 2009 (CUSIP No.
450725AB2 and ISIN US450725AB24) (the "13% Notes") and its $100.0 million
aggregate principal amount of 8-1/2% Senior Subordinated Notes due 2009 (CUSIP
No. 450725AD8 and ISIN US450725AD89) (the "8-1/2% Notes" and, together with the
13% Notes, the "Notes").
A total of $226.5 million aggregate principal amount of the outstanding
13% Notes (approximately 98.5%) and $100.0 million aggregate principal amount of
the outstanding 8-1/2% Notes (100%) were tendered prior to the expiration date
of 9:00 a.m., New York City time, today. IASIS has accepted for purchase, at the
expiration date, and paid for, all Notes tendered pursuant to the Offer. On May
19, 2004, IASIS announced the execution of supplemental indentures effecting
certain amendments to the indentures governing the Notes. The amendments, which
eliminate or modify substantially all of the restrictive covenants in the
indentures, became operative upon acceptance of the Notes for purchase.
Banc of America Securities LLC acted as IASIS's exclusive dealer
manager and solicitation agent in connection with the Offer.
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IASIS Announces Completion of Tender Offer
Page 2
June 22, 2004
COMPANY INFORMATION AND FORWARD LOOKING STATEMENTS
IASIS Healthcare(R) Corporation, 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 to meet the needs
of the markets it serves, promoting strong relationships with physicians and
working with local managed care plans. IASIS Healthcare(R) owns or leases 15
acute care hospitals with a total of 2,257 beds in service, and has total annual
revenues of approximately $1.2 billion. These hospitals are located in five
regions: Salt Lake City, UT; Phoenix, AZ; Las Vegas, NV; Tampa-St. Petersburg,
FL; and four cities in Texas, including San Antonio. IASIS Healthcare(R) also
owns and operates a behavioral health center in Phoenix and has an ownership
interest in three ambulatory surgery centers. In addition, the Company owns and
operates a Medicaid managed health plan in Phoenix that serves over 92,000
members. For more information on IASIS Healthcare(R) Corporation, please visit
the Company's website at www.iasishealthcare.com.
This press release contains statements regarding beliefs and
expectations of the outcome of future events that are forward-looking statements
as defined within the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the statements made.
Factors that could cause results to differ are described in filings made from
time to time by IASIS with the Securities and Exchange Commission. IASIS takes
no responsibility for updating the information contained in this press release
following the date hereof to reflect events or circumstances occurring after the
date hereof or the occurrence of unanticipated events.
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