8-K

 
                      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                                                September 12, 1996
(Date of Earliest Event Reported)

                      COLUMBIA/HCA HEALTHCARE CORPORATION
            (Exact name of registrant as specified in its charter)

                                   DELAWARE
                           (State of Incorporation)

001-11239                                                        75-2497104
(Commission                                                   (I.R.S. Employer
File Number)                                                 Identification No.)

One Park Plaza, Nashville, Tennessee                               37203
(Address of principal executive offices)                         (Zip Code)

                                (615) 327-9551
             (Registrant's telephone number, including area code)
 

 
ITEM 5.  Other Events

     Columbia/HCA Healthcare Corporation (the "Company") has declared a 3-for-2 
stock split in the form of a stock dividend on the Company's $.01 par value 
common stock (the "Common Stock"). Shareholders of record at the close of 
business on October 1, 1996 will be issued one additional share of the Company's
Common Stock for each two shares owned as of that date. A cash payment will be 
made in lieu of a fractional share based upon the closing price of the Common 
Stock on October 1, 1996. The payment (mailing) date for the stock distribution
is October 15, 1996.

ITEM 7.  Exhibit

     Exhibit 99.  Copy of the press release dated September 12, 1996.


                                   SIGNATURE

     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.


COLUMBIA/HCA HEALTHCARE CORPORATION


/s/ STEPHEN T. BRAUN
- -----------------------------------
    Stephen T. Braun
    Senior Vice President
    and General Counsel

DATED:  September 25, 1996

EX-99

 
                                                                      EXHIBIT 99

[Columbia/HCA Healthcare Corporation Logo appears here]

                                                                NEWS
- --------------------------------------------------------------------------------
                                                           FOR IMMEDIATE RELEASE

INVESTOR CONTACT:                                           MEDIA CONTACT:
Victor L. Campbell                                          Lindy B. Richardson
615-320-2053                                                615-320-2166

                    COLUMBIA ANNOUNCES 3-FOR-2 STOCK SPLIT

        NASHVILLE, Tenn., Sept. 12, 1996- Columbia/HCA Healthcare Corporation 
(NYSE: COL) today announced declaration of a 3-for-2 stock split in the form of
a stock dividend. The Company's cash dividend rate will be adjusted to reflect
the stock split.

        Stockholders of record at the close of business on October 1, 1996, will
be issued one additional share of common stock for each two shares owned as of
that date. A cash payment will be made in lieu of a fractional share based upon
the closing price of the common stock on October 1, 1996. New shares will be
mailed on October 15, 1996. The Company currently has approximately 447,000,000
shares of common stock outstanding.

        Richard L. Scott, Columbia's Chairman, President and CEO, said, "The 
split will adjust the price per share of Columbia stock to a level that may be 
more appealing to certain individual investors."

        Columbia's next quarterly dividend, which is payable December 1, 1996, 
to record holders as of November 1, 1996, will be adjusted to $.02 per share 
(from $.03 per share) on the increased number of shares resulting from the stock
split.

        Approximately 16% of the Company's common stock (including stock 
options) is owned by employees.  Last year, 40,000 employees invested over $45 
million in Columbia's common stock through the Company's employee stock purchase
plan.  Over 14,000 employees currently hold options to purchase shares of the 
common stock.

        Columbia is the largest provider of healthcare services in the nation 
with 345 hospitals, 135 outpatient surgery centers, 500 home health locations 
and extensive outpatient and ancillary services in 37 states, the United Kingdom
and Switzerland.  By building comprehensive networks of healthcare services in 
local markets, Columbia integrates various services and delivers patient care 
with maximum efficiency.  Columbia ranked 14th in the Fortune Magazine 1995 list
of fastest growing companies.

        For more information on Columbia locations visit the Columbia home page 
at http://www.columbia.net, or call 1-800-COLUMBIA.