8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________________________

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): June 3, 2002 (May 31, 2002)

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 No.)

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)

TABLE OF CONTENTS

PRESS RELEASE

Item 5. Other Events

     On May 31, 2002, Province Healthcare Company completed the acquisition of Los Alamos Medical Center (the “Hospital”) in Los Alamos, New Mexico from Banner Health System, an Arizona nonprofit corporation. The Hospital is licensed for 47 acute care beds, has a service area population of approximately 50,000 and has current revenues of approximately $33.2 million. Province acquired the assets and operations of the Hospital for approximately $38 million in cash, plus net working capital. The acquisition became effective June 1, 2002 for financial reporting purposes.

     As a result of the acquisition, Province owns or leases 20 general acute care hospitals in 13 states with a total of 2,315 licensed beds. The Company also provides management services to 35 primarily non-urban hospitals in 13 states with a total of 2,776 licensed beds.

Item 7. Financial Statements and Exhibits

     (a)  Exhibits

99.1     Copy of the press release, dated June 3, 2002, announcing that Province acquired Los Alamos Medical Center in Los Alamos, New Mexico

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 Brenda B. Rector Vice President and Controller

Date: June 3, 2002

EX-99.1 3 g76717exv99w1.txt PRESS RELEASE EXHIBIT 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE CONTACT: MERILYN H. HERBERT VICE PRESIDENT, INVESTOR RELATIONS (615) 370-1377 PROVINCE HEALTHCARE COMPLETES ACQUISITION OF NEW MEXICO HOSPITAL Brentwood, TN, June 3, 2002 - Province Healthcare Company (Nasdaq:PRHC) today announced that it has completed the acquisition of Los Alamos Medical Center in Los Alamos, New Mexico. The 47-bed hospital was acquired from Banner Health System in Phoenix, Arizona for approximately $38 million. The sale was effective June 1, 2002. Los Alamos Medical Center has 2002 annualized revenues of approximately $33.2 million, is a sole community provider and serves a population of approximately 50,000. Province Healthcare is a provider of health care services in attractive non-urban markets in the United States. The Company owns or leases 20 general acute care hospitals in 13 states with a total of 2,315 licensed beds. The Company also provides management services to 35 primarily non-urban hospitals in 13 states with a total of 2,776 licensed beds. Certain statements contained in this release, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include projections of revenues, income or loss, capital expenditures, capital structure, or other financial items, statements regarding the plans and objectives of management for future operations, statements of future economic performance, statements of the assumptions underlying or relating to any of the foregoing statements, and other statements which are other than statements of historical fact. These statements are based on current estimates of future events, and the Company has no obligation to update or correct these estimates unless considered material to the Company. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with general economic and business conditions, the effect of future governmental regulations, changes in reimbursement levels by government programs, including Medicare and Medicaid or other third party payors, and the Company's ability to implement successfully its acquisition and development strategy. Those and other risks are described in the Company's reports and filings with the Securities and Exchange Commission. CONTACT: Merilyn H. Herbert, Province Healthcare Company (PRHC) at (615)370-1377 -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                    EXHIBIT 99.1


                                              NEWS RELEASE
                                              FOR IMMEDIATE RELEASE

                                              CONTACT: MERILYN H. HERBERT
                                              VICE PRESIDENT, INVESTOR RELATIONS
                                              (615) 370-1377


                  PROVINCE HEALTHCARE COMPLETES ACQUISITION OF
                               NEW MEXICO HOSPITAL

         Brentwood, TN, June 3, 2002 - Province Healthcare Company (Nasdaq:PRHC)
today announced that it has completed the acquisition of Los Alamos Medical
Center in Los Alamos, New Mexico. The 47-bed hospital was acquired from Banner
Health System in Phoenix, Arizona for approximately $38 million. The sale was
effective June 1, 2002.

         Los Alamos Medical Center has 2002 annualized revenues of approximately
$33.2 million, is a sole community provider and serves a population of
approximately 50,000.

         Province Healthcare is a provider of health care services in attractive
non-urban markets in the United States. The Company owns or leases 20 general
acute care hospitals in 13 states with a total of 2,315 licensed beds. The
Company also provides management services to 35 primarily non-urban hospitals in
13 states with a total of 2,776 licensed beds.

         Certain statements contained in this release, constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements may include projections of
revenues, income or loss, capital expenditures, capital structure, or other
financial items, statements regarding the plans and objectives of management for
future operations, statements of future economic performance, statements of the
assumptions underlying or relating to any of the foregoing statements, and other
statements which are other than statements of historical fact. These statements
are based on current estimates of future events, and the Company has no
obligation to update or correct these estimates unless considered material to
the Company. Forward-looking statements involve known and unknown risks and
uncertainties which may cause the Company's actual results in future periods to
differ materially from forecasted results. Those risks include, among others,
risks associated with general economic and business conditions, the effect of
future governmental regulations, changes in reimbursement levels by government
programs, including Medicare and Medicaid or other third party payors, and the
Company's ability to implement successfully its acquisition and development
strategy. Those and other risks are described in the Company's reports and
filings with the Securities and Exchange Commission.

CONTACT: Merilyn H. Herbert, Province Healthcare Company (PRHC) at (615)370-1377