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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): December 9, 1999
NEW AMERICAN HEALTHCARE CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 001-14397 62-1750169
(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation or organization) Identification No.)
109 WESTPARK DRIVE, SUITE 440
BRENTWOOD, TENNESSEE 37027
(Address of principal executive offices) (Zip Code)
(615) 221-5070
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS.
For the purpose of informing the market, New American Healthcare
Corporation (the "Registrant") hereby files the press releases issued on
December 9 and December 15, 1999, which are attached hereto.
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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 thereunto duly authorized.
NEW AMERICAN HEALTHCARE CORPORATION
By: /s/ Timothy S. Hill
-------------------------------------
Senior Vice President
Chief Financial Officer
Dated: December 20, 1999
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EXHIBIT INDEX
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Exhibit No.
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99.1 Press Release of the Registrant issued December 9, 1999.
99.2 Press Release of the Registrant issued December 15, 1999.
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Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: DANA C. MCLENDON, JR.
SENIOR VICE PRESIDENT & CHIEF
ADMINISTRATIVE OFFICER
(615) 309-2008
NEW AMERICAN HEALTHCARE CORPORATION REPORTS
NONCOMPLIANCE WITH CONTINUED LISTING STANDARDS
OF THE NEW YORK STOCK EXCHANGE
NASHVILLE, Tennessee (December 9, 1999) -- New American Healthcare Corporation
(NYSE:NAH) today reported that it has fallen below the continued listing
standards of the New York Stock Exchange (NYSE) relating to total market
capitalization and shareholders' equity of $50 million. The Company is
considering its response to the NYSE.
New American Healthcare Corporation was formed to capitalize on
opportunities to be the principal provider of quality, cost-effective healthcare
services in the non-urban communities which it targets. New American Healthcare
owns nine acute care hospitals located in seven states with 955 licensed beds.
For additional information about the Company, visit New American Healthcare's
web site: http://www.nahc.net.
Forward-looking statements made in this press release involve a number
of risks and uncertainties, including but not limited to, exchange listing,
liquidity and trading in the Company's common stock and other risk factors
detailed in the Company's Securities and Exchange Commission.
-END-
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Exhibit 99.2
FOR IMMEDIATE RELEASE
CONTACT: DANA C. MCLENDON, JR.
SENIOR VICE PRESIDENT & CHIEF
ADMINISTRATIVE OFFICER
(615) 309-2008
NEW AMERICAN HEALTHCARE CORPORATION NEGOTIATING CREDIT
RESTRUCTURING, SUSPENDS INTEREST PAYMENTS
NASHVILLE, Tennessee (December 15, 1999) -- New American Healthcare Corporation
(NYSE:NAH) announced today that it has notified its senior bank lenders that it
will not make interest payments due this month. The interest payments are due
under the Company's bank credit agreement. As previously disclosed, the Company
has begun discussions with its senior bank lenders regarding the possible
restructuring of its bank debt.
"The Company will continue to work collaboratively with its banks in
the interest of all concerned parties," said Tom Singleton, president and chief
executive officer of New American Healthcare Corporation. "The Company expects
the banks will grant a waiver to allow discussions to continue," Mr. Singleton
concluded.
New American Healthcare Corporation was formed to capitalize on
opportunities to be the principal provider of quality, cost-effective healthcare
services in the non-urban communities which it targets. New American Healthcare
owns nine acute care hospitals located in seven states with 955 licensed beds.
For additional information about the Company, visit New American Healthcare's
web site: http://www.nahc.net.
Forward-looking statements made in this press release involve a number
of risks and uncertainties, including but not limited to, exchange listing,
liquidity and trading in the Company's common stock and other risk factors
detailed in the Company's Securities and Exchange Commission.
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