-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Kx968PUn9wy5QMiT+hdih7hGPDw25DPcPm6JbhEoYWwgYqwGzj1ybCDVF3q0Q2mR jfr156tGdqlLGYDSKTWXOw== 0000950144-05-003825.txt : 20050413 0000950144-05-003825.hdr.sgml : 20050413 20050413172203 ACCESSION NUMBER: 0000950144-05-003825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050413 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050413 DATE AS OF CHANGE: 20050413 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROVINCE HEALTHCARE CO CENTRAL INDEX KEY: 0001044942 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062] IRS NUMBER: 621710772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31320 FILM NUMBER: 05748967 BUSINESS ADDRESS: STREET 1: 105 WESTPARK DR STREET 2: STE 400 CITY: BRENTWOOD STATE: TN ZIP: 37027 BUSINESS PHONE: 6153701377 MAIL ADDRESS: STREET 1: 105 WESTPARK DR STREET 2: SUITE 180 CITY: BRENTWOOD STATE: TN ZIP: 37207 8-K 1 g94500e8vk.htm PROVINCE HEALTHCARE COMPANY Province Healthcare Company
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): April 13, 2005


Province Healthcare Company

(Exact name of registrant as specified in its charter)
         
Delaware   001-31320   62-1710772
(State or Other   (Commission File Number)   (IRS Employer
Jurisdiction of       Identification No.)
Incorporation)        
     
105 Westwood Place   37027
Suite 400   (Zip Code)
Brentwood, Tennessee    
(Address of Principal Executive Offices)    

(615) 370-1377


(Registrant’s Telephone Number, Including Area Code)

N/A


(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 


TABLE OF CONTENTS

Item 8.01 Other Events.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
EXHIBIT INDEX
Ex-99.1 Press Release
Ex-99.2 Press Release


Table of Contents

Item 8.01 Other Events.

     On April 13, 2005, Province Healthcare Company (the “Company”) and LifePoint Hospitals, Inc. (“LifePoint Hospitals”) jointly issued a press release announcing that the exchange ratio in connection with LifePoint Hospitals’ proposed acquisition of the Company will be 0.2917. The exchange ratio equals the fraction of a share of common stock of Lakers Holding Corp. (“New LifePoint”) which, together with $11.375 in cash, will be exchanged for each share of Company common stock held by Company stockholders. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

     On April 13, 2005, the Company issued a press release announcing that, in connection with its cash tender offer and consent solicitation relating to its outstanding 7 1/2% Senior Subordinated Notes due 2013 (the “Notes”), the Company 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. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

Item 9.01 Financial Statements and Exhibits.

     (a) Not Applicable

     (b) Not Applicable

     (c) Exhibits.

The exhibits listed below and in the accompanying Exhibit Index are filed as part of this Current Report on Form 8-K.

         
Exhibit No.   Description
  99.1    
Press Release jointly issued on April 13, 2005, by Province Healthcare Company and LifePoint Hospitals, Inc.
       
 
  99.2    
Press Release issued on April 13, 2005, by Province Healthcare Company

 


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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/ Howard T. Wall    
    Howard T. Wall   
    Senior Vice President, General Counsel and Secretary   
 

Date: April 13, 2005

 


Table of Contents

EXHIBIT INDEX

         
Exhibit No.   Description
  99.1    
Press Release jointly issued on April 13, 2005, by Province Healthcare Company and LifePoint Hospitals, Inc.
       
 
  99.2    
Press Release issued on April 13, 2005, by Province Healthcare Company

 

EX-99.1 2 g94500exv99w1.txt EX-99.1 PRESS RELEASE Exhibit 99.1 (LIFEPOINT HOSPITALS, INC. LOGO) CONTACT: FOR LIFEPOINT HOSPITALS, INC. FOR PROVINCE HEALTHCARE COMPANY MICHAEL J. CULOTTA CHRISTOPHER T. HANNON CHIEF FINANCIAL OFFICER CHIEF FINANCIAL OFFICER (615) 372-8512 (615) 376-7266 LIFEPOINT HOSPITALS, INC. AND PROVINCE HEALTHCARE COMPANY ANNOUNCE EXCHANGE RATIO IN CONNECTION WITH PROPOSED ACQUISITION BRENTWOOD, TENNESSEE (April 13, 2005) - LifePoint Hospitals, Inc. ("LifePoint Hospitals") (NASDAQ: LPNT) and Province Healthcare Company ("Province Healthcare") (NYSE: PRV) jointly announced today that the exchange ratio in connection with LifePoint Hospitals' proposed acquisition of Province Healthcare will be 0.2917. The exchange ratio equals the fraction of a share of common stock of Lakers Holding Corp. ("New LifePoint") which, together with $11.375 in cash, will be exchanged for each share of Province Healthcare common stock held by Province Healthcare stockholders. The exchange ratio assumes that the closing of the proposed merger will take place, as currently scheduled, on Friday, April 15, 2005, and is subject to change if the closing does not occur for any reason on the scheduled date. New LifePoint is a newly formed holding company which will be renamed LifePoint Hospitals, Inc. after the consummation of the proposed merger. LifePoint Hospitals, Inc. currently operates 30 hospitals in non-urban communities. In most cases, the LifePoint Hospitals facility is the only hospital in its community. LifePoint Hospitals' non-urban operating strategy offers continued operational improvement by focusing on its five core values: delivering high quality patient care, supporting physicians, creating excellent workplaces for its employees, providing community value and ensuring fiscal responsibility. Headquartered in Brentwood, Tennessee, LifePoint Hospitals is affiliated with approximately 9,900 employees. Province Healthcare Company, a provider of healthcare services in attractive non-urban markets in the United States, owns or leases 21 general acute care hospitals in 13 states with a total of 2,529 licensed beds. ****** IMPORTANT LEGAL INFORMATION In connection with the proposed transaction between LifePoint Hospitals and Province Healthcare, Lakers Holding Corp. 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, and other relevant materials have been filed by LifePoint Hospitals and Province Healthcare. 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 Corp., 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 Corp. 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 release includes forward-looking statements based on current management expectations. Numerous factors exist which may cause results to differ from these expectations. Many of the factors that will determine the companies' future results are beyond the companies' ability to control or predict with accuracy. Such forward-looking statements, particularly those statements regarding the effects of the proposed transaction, reflect the current expectations and beliefs of the managements of LifePoint Hospitals and Province Healthcare, are not guarantees of performance of LifePoint Hospitals, Province Healthcare or the combined entity following completion of the proposed transaction, and are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ from those described in the forward-looking statements. For example, such risks, uncertainties, assumptions and other factors relating to the proposed transaction 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. These forward-looking statements are also subject to other risks and uncertainties, including, without limitation, (i) reduction in payments to healthcare providers by government and commercial third-party payors, as well as changes in the manner in which employers provide healthcare coverage to their employees; (ii) the possibility of adverse changes in, and requirements of, applicable laws, regulations, policies and procedures, including those required by LifePoint Hospitals' corporate integrity agreement; (iii) the ability to manage healthcare risks, including malpractice litigation, and the lack of state and federal tort reform; (iv) the availability, cost and terms of insurance coverage; (v) the highly competitive nature of the healthcare business, including the competition to recruit and retain physicians and other healthcare professionals; (vi) the ability to attract and retain qualified management and personnel; (vii) the geographic concentration of the companies' operations; (viii) the ability to acquire hospitals on favorable terms; (ix) the ability to operate and integrate newly acquired facilities successfully; (x) the availability and terms of capital to fund the companies' business strategies; (xi) changes in the companies' liquidity or indebtedness; (xii) the potential adverse impact of government investigations and litigation involving the business practices of healthcare providers, including whistleblowers investigations; (xiii) volatility in the market value of each company's common stock; (xiv) changes in general economic conditions in the markets the companies serve; (xv) LifePoint Hospitals' reliance on information technology systems maintained by HCA Inc.; (xvi) the costs of complying with the Americans With Disabilities Act; and (xvii) those risks and uncertainties described from time to time in the companies' filings with the SEC, including those related to the proposed transaction. Therefore, the companies' future results may differ materially from those described in this release. Neither LifePoint Hospitals nor Province Healthcare undertakes any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All references to "LifePoint Hospitals" as used throughout this release refer to LifePoint Hospitals, Inc. and its affiliates. All references to "Province Healthcare" as used throughout this release refer to Province Healthcare Company and its affiliates. EX-99.2 3 g94500exv99w2.txt EX-99.2 PRESS RELEASE 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.
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