Exhibit 99.2
(PROVINCE HEALTHCARE LOGO)
NEWS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: CHRISTOPHER T. HANNON
SENIOR VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
(615) 370-1377
PROVINCE HEALTHCARE ANNOUNCES TENDER OFFER PRICE FOR ITS 7 1/2%
SENIOR SUBORDINATED NOTES DUE 2013
BRENTWOOD, TN, APRIL 13, 2005 - Province Healthcare Company ("Province
Healthcare") (NYSE:PRV) announced today that, in connection with its cash tender
offer and consent solicitation for any and all of its $200,000,000 outstanding
principal amount of 7 1/2% Senior Subordinated Notes due 2013 (CUSIP No.
743977AF7) (the "Notes"), Province Healthcare will pay $1,120.43 for each $1,000
principal amount of Notes purchased in the tender offer, plus accrued and unpaid
interest up to, but not including, the date of payment for the Notes.
The purchase price includes a consent payment of $20.00 per $1,000
principal amount of Notes. Holders of the Notes who have validly tendered, and
not withdrawn, their notes pursuant to the tender offer at or prior to 12:00
midnight, New York City time, on March 31, 2005 will receive the consent
payment. The purchase price for each $1,000 principal amount of Notes validly
tendered and accepted for purchase was determined by reference to a fixed spread
of 50 basis points over the yield (as reported by Bloomberg Government Pricing
Monitor on "Page PX5" at 2:00 p.m., New York City time, on April 12, 2005) of
the 2.625% U.S. Treasury Note due May 15, 2008.
The tender offer is scheduled to expire at 12:00 midnight, New York
City time, on April 15, 2005, unless extended or earlier terminated. Province
Healthcare currently expects to accept for payment on April 15, 2005, any
previously tendered Notes and to accept for payment any Notes tendered after
such time but on or prior to the expiration date, on April 18, 2005, subject in
each case to satisfaction or waiver of all conditions precedent to the
consummation of the previously announced business combination with LifePoint
Hospitals, Inc. ("LifePoint Hospitals") and certain other conditions described
in more detail in the Offer to Purchase and Consent Solicitation Statement.
The tender offer and consent solicitation are being made pursuant to
the Offer to Purchase and Consent Solicitation Statement and related Consent and
Letter of Transmittal. Copies of these documents may be obtained from Global
Bondholder Services Corporation, the information agent for the tender offer and
consent solicitation, at (866) 804-2200 (U.S. toll-free) and (212) 430-3774
(collect).
Province Healthcare has retained Citigroup Global Markets Inc. to serve
as the dealer manager and solicitation agent for the tender offer and the
consent solicitation. Questions regarding the tender offer and consent
solicitation may be directed to Citigroup Global Markets Inc., Liability
Management Group, at (800) 558-3745 (U.S. toll free) and (212) 723-6106
(collect).
In connection with the proposed transaction between LifePoint Hospitals
and Province Healthcare, Lakers Holding Corp., Delaware corporation formed as
part of the proposed transactions ("Lakers Holding"), has filed with the
Securities and Exchange Commission (the "SEC") a joint proxy
statement/prospectus, as part of a Registration Statement on Form S-4, as
amended, and other relevant materials. The definitive joint proxy
statement/prospectus was mailed to the stockholders of LifePoint Hospitals and
Province Healthcare on or about February 22, 2005. Investors and security
holders are advised to read the joint proxy statement/prospectus and other
relevant materials when they become available, as well as any amendments or
supplements to those documents, because they will contain important information
about Lakers Holding, LifePoint Hospitals, Province Healthcare and the proposed
transaction. In addition, the joint proxy statement/prospectus and other
relevant materials filed by LifePoint Hospitals or Province Healthcare with the
SEC may be obtained free of charge at the SEC's web site at www.sec.gov. In
addition, investors and security holders may obtain free copies of the documents
filed with the SEC by LifePoint Hospitals or Lakers Holding by contacting
Investor Relations, LifePoint Hospitals, Inc., 103 Powell Court, Suite 200,
Brentwood, Tennessee, 37027, Phone: (615) 372-8500 and
by Province Healthcare by contacting Investor Relations, Province Healthcare
Company, 105 Westwood Place, Suite 400, Brentwood, Tennessee, 37027, Phone:
(615) 370-1377.
This document may contain statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements. Such forward-looking
statements, particularly those statements regarding the effects of the merger,
reflect LifePoint Hospitals, Inc.'s and Province Healthcare Company's current
expectations and beliefs, are not guarantees of performance of LifePoint
Hospitals or the newly formed combined entity and are subject to a number of
risks, uncertainties, assumptions and other factors that could cause actual
results to differ materially from those described in the forward-looking
statements. For example, such risks, uncertainties, assumptions and other
factors include, without limitation, the possibility that (1) problems may arise
in successfully integrating the businesses of the two companies; (2) the
acquisition may involve unexpected costs; (3) the combined company may be unable
to achieve cost-cutting synergies; (4) the businesses may suffer as a result of
uncertainty surrounding the acquisition; and (5) the combined company may be
subject to future regulatory or legislative actions. For a further discussion of
these and other risks, uncertainties, assumptions and other factors, see the
joint proxy statement/prospectus and LifePoint Hospitals' and Province
Healthcare's filings with the Securities and Exchange Commission. LifePoint
Hospitals and Province Healthcare undertake no duty to update forward-looking
statements.