-----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, HgwzoNbE55Dn6/jlmzsah3v7WTP8dKmWH/1lYxIdOyJveKPXXmzR1PYY+MgI4d16 oFnZNLBSJeyL1uuQiotzkQ== 0000950144-98-007818.txt : 19980629 0000950144-98-007818.hdr.sgml : 19980629 ACCESSION NUMBER: 0000950144-98-007818 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980626 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980626 SROS: NASD 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: SEC FILE NUMBER: 000-23639 FILM NUMBER: 98655084 BUSINESS ADDRESS: STREET 1: 105 WESTPARK DR STREET 2: STE 400 CITY: BRENTWOOD STATE: TN ZIP: 37027 BUSINESS PHONE: 6153701377 MAIL ADDRESS: STREET 1: 109 WESTPARK DR SUITE 180 STREET 2: 109 WESTPARK DR SUITE 180 CITY: BRENTWOOD STATE: TN ZIP: 37207 8-K 1 PROVINCE HEALTHCARE COMPANY 1 ================================================================================ 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): June 26, 1998 (June 11, 1998) ------------------------------ PROVINCE HEALTHCARE COMPANY (Exact name of registrant as specified in its charter) Delaware 0-23639 62-1710772 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification Number) 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) ================================================================================ 2 ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS On June 11, 1998, Province Healthcare Company (the "Company") completed the acquisition of substantially all of the assets used in the conduct and operation of the business of Elko General Hospital in Elko, Nevada from the County of Elko, a political subdivision of the State of Nevada. The purchase price was approximately $21.7 million. Pursuant to the terms of the Asset Purchase Agreement, the Company acquired substantially all of the assets of Elko General Hospital. These assets included the 50-bed general acute care hospital facility, the real property on which the facility is located and related facilities. The aggregate purchase price of $21.7 million included both cash and assumed debt components. In order to finance the acquisition, the Company borrowed $22.0 million pursuant to the terms of its Revolving Credit Facility with a syndicate of banks led by First Union National Bank of Charlotte, N.C., as Agent. The Company plans to continue operating the assets acquired in the acquisition as a 50-bed general acute care hospital. The Asset Purchase Agreement also requires the Company to construct a new 75-bed general acute care replacement hospital at a cost of not less than $30 million. The Company expects to complete the replacement hospital within the next 36 months. As a result of the acquisition, the Company now owns ten hospitals in six states with a total of 739 licensed beds. The Company also has management agreements for 50 hospitals in 19 states for a total of 3,422 beds. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Financial Statements of Business Acquired The Company anticipates that the audited financial statements of Elko General Hospital as of and for the year ended June 30, 1997 will be filed within 60 days of June 26, 1998. (b) Pro Forma Financial Information. The required pro forma financial statements, giving effect to the asset purchase as if it had occurred on March 31, 1998, as to the balance sheet and on January 1, 1997, as to the income statement, will be filed within 60 days of June 26, 1998. (c) Exhibits: 2.1 Asset Purchase Agreement, dated June 8, 1998, between the Company and the County of Elko, is hereby incorporated by reference to the Company's Registration Statement on Form S-1, filed June 12, 1998, Registration No. 333-56663. 20.1 Copy of the press release, dated June 12, 1998, relating to the completion of the Elko General Hospital acquisition. 3 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 26, 1998 EX-27 2 FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS OF UNITED FOODS INC FOR THE THREE MONTHS ENDED MAY 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 3-MOS FEB-28-1999 MAY-31-1998 3,172 0 15,359 0 35,271 58,541 128,215 76,059 111,896 25,687 40,214 0 0 6,810 39,185 111,896 49,934 49,934 40,545 40,545 8,101 47 887 401 154 247 0 0 0 247 .04 .04
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