EX-99.1 3 g72011ex99-1.txt PRESS RELEASE DATED 10/01/01 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 VAUGHAN REGIONAL MEDICAL CENTER IN SELMA, ALABAMA Brentwood, Tennessee, October 1, 2001 -- Province Healthcare Company (Nasdaq:PRHC) today announced that it has completed the acquisition of the 125-bed Vaughan Regional Medical Center in Selma, Alabama. The hospital was acquired from Vaughan Regional Medical Center, Inc., a non-profit organization, for approximately $28.0 million. Vaughan Regional had annualized revenues at May 31, 2001 of approximately $38.0 million. Province Healthcare is a provider of health care services in attractive non-urban markets in the United States. The Company owns or leases 17 general acute care hospitals in eleven states with a total of 1,883 licensed beds. The Company also provides management services to 35 primarily non-urban hospitals in 13 states with a total of 2,779 licensed beds. CONTACT: Merilyn H. Herbert, Province Healthcare Company (PRHC) at (615) 370-1377.