-----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, RSh6XaKpGPmpqdhL5eOG9Ef442sGmzfMox8cf0xFOpr+0OnejlE6KPc0tESsUI0S d/jPWWg02wnE5dLqHwAsxQ== 0000719242-96-000012.txt : 19960627 0000719242-96-000012.hdr.sgml : 19960627 ACCESSION NUMBER: 0000719242-96-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960625 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960626 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ORNDA HEALTHCORP CENTRAL INDEX KEY: 0000719242 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HOSPITALS [8060] IRS NUMBER: 751776092 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11591 FILM NUMBER: 96586093 BUSINESS ADDRESS: STREET 1: 3401 W END AVE STE 700 CITY: NASHVILLE STATE: TN ZIP: 37203-1042 BUSINESS PHONE: 6153838599 MAIL ADDRESS: STREET 1: 3401 WEST END AVE STREET 2: SUITE 700 CITY: NASHVILLE STATE: TN ZIP: 37203-1042 FORMER COMPANY: FORMER CONFORMED NAME: REPUBLIC HEALTH CORP DATE OF NAME CHANGE: 19920415 8-K 1 Total Number of Pages: 6 Exhibit Index on Sequential Page No.: 3 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 25, 1996 --------------- ORNDA HEALTHCORP (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of incorporation) 1-11591 75-1776092 (Commission File Number) (IRS Employer Identification No.) 3401 West End Avenue, Nashville, Tennessee 37203 (Address of principal executive office) (Zip Code) Registrant's telephone number, including area code: (615) 383-8599 Item 5. Other Events. The Registrant hereby incorporates by reference the information about the Registrant set forth in Exhibit 99 attached hereto. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits. 99 The first two pages of Registrant's news release dated June 25, 1996. 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. ORNDA HEALTHCORP (Signature) Ronald P. Soltman Senior Vice President Date: June 25, 1996 -2- EXHIBIT INDEX Sequential No. Subject Matter Page No. 99 The first two pages of Registrant's news release dated June 25, 1996... 4 -3- Exhibit 99 -4- [OrNda Letterhead] FOR IMMEDIATE RELEASE: Contact: Keith B. Pitts Executive Vice President and Chief Financial Officer or Thomas A. Bartels Director of Investor Relations OrNda HealthCorp (615) 383-8599 ORNDA NET INCOME UP 32.6% ----------------------------------------------------------------------- THIRD QUARTER EPS OF $0.49 NASHVILLE, Tennessee (June 25, 1996) -- OrNda HealthCorp (NYSE:ORN) today reported that net income for the three months ended May 31, 1996, increased 32.6% to $29.3 million from $22.1 million in the third quarter of last year. Third quarter earnings from continuing operations were $29.3 million, up 36.2% from third quarter 1995 earnings from continuing operations of $21.5 million. Earnings per share rose to $0.49 on 60.4 million weighted average common and common equivalent shares for the third quarter ended May 31, 1996, compared with $0.47 on 45.6 million weighted average common and common equivalent shares for the same period last year. The majority of the increase in weighted average common and common equivalent shares is due to the issuance of 11.5 million common shares and the conversion of 1.4 million shares of convertible preferred stock to common shares in November 1995. Revenue for the third quarter of fiscal 1996 was $557.9 million compared with $497.9 million in last year's third quarter. OrNda's EBITDA margin improved to 16.3% for the third quarter of fiscal 1996 compared with 14.4% in the same period last year. Net income increased to $76.7 million for the first nine months of fiscal 1996 compared with $55.4 million in the same period of fiscal 1995, representing an increase of 38.5%. Income from continuing operations for the nine months ended May 31, 1996, increased to $76.7 million from $54.8 million for the same period in the prior year, an increase of 40.0%. Earnings per share for the nine months ended May 31, 1996, rose to $1.35 from $1.20 for the same period last year. For the nine months ended May 31, 1996, revenues were $1.6 billion compared with $1.4 billion last year. The Company's EBITDA margin increased to 15.6% from 14.5% for the same - MORE - ORN Reports Third Quarter Results Page 2 June 25, 1996 nine-month period last year. On a fully diluted basis, earnings per share for the nine months ended May 31, 1996 and 1995, were $1.34 and $1.20, respectively. For the nine months ended May 31, 1996, on a same hospital basis, revenues increased by 6.9%, admissions increased by 2.7%, and adjusted admissions increased by 6.1% over the prior year. For the third quarter, same hospital revenues rose by 4.7% compared with the same period last year. Same hospital admissions for the quarter were relatively flat and adjusted admissions rose by 2.9% over the prior year. Charles N. Martin, Jr., chairman, president and chief executive officer of OrNda HealthCorp, said, "We continue to be successful in obtaining more managed care business, particularly capitated contracts. Our success in managing medical utilization under these contracts has contributed positively to our operating margins. I am pleased to report that we are well positioned in our markets to implement our operational strategy which includes expansion of outpatient services and the continued development of integrated health care delivery networks." As previously announced, OrNda has signed definitive agreements to purchase The Fallon Healthcare System's Saint Vincent Healthcare System in Worcester, Massachusetts, and Centinela Hospital Medical Center in Inglewood, California. A letter of intent has also been signed with Cypress Fairbanks Medical Center in Houston, Texas. These three acquisitions are expected to add approximately $400 million in annual revenue to OrNda's operations. OrNda HealthCorp, based in Nashville, Tennessee, is the third largest investor-owned hospital management company in the United States. It is a leading provider of health care services, delivering a broad range of inpatient and outpatient health care services principally through the operation of 48 hospitals located in urban and suburban communities in 14 states. For additional information on the Company, visit OrNda HealthCorp's Web site: http://www.orndahealth.com Additional Media Contact: Paula Lovell Lovell Communications Inc. (615) 297-7766 -###- -----END PRIVACY-ENHANCED MESSAGE-----