EX-99.1 3 g71422ex99-1.txt PRESS RELEASE 1 EXHIBIT 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE CONTACT: MERILYN H. HERBERT VICE PRESIDENT, INVESTOR RELATIONS (615) 370-1377 PROVINCE HEALTHCARE COMPLETES ACQUISITION OF ASHLAND, PENNSYLVANIA HOSPITAL Brentwood, TN, August 16, 2001 - Province Healthcare Company (Nasdaq:PRHC) announced that it has completed the acquisition of the 126-bed Ashland Regional Medical Center in Ashland, Pennsylvania. The hospital was acquired from Ashland Regional Medical Center, Inc., a non-profit corporation, for approximately $4.0 million and it had revenues of approximately $21.0 million in its last fiscal year. Province now has three Letters of Intent (LOI's) outstanding and to date, has acquired two hospitals in 2001. Province Healthcare is a provider of health care services in attractive non-urban markets in the United States. The Company owns or leases 16 general acute care hospitals in 11 states with a total of 1,733 licensed beds. The Company also provides management services to 36 primarily non-urban hospitals in 13 states with a total of 2,981 licensed beds. CONTACT: Merilyn H. Herbert, Province Healthcare Company (PRHC) at (615)370-1377