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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 17, 2000
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) Identification No.)
109 WESTPARK DRIVE, SUITE 440 37027
BRENTWOOD, TENNESSEE (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 2. ACQUISITION OR DISPOSITION OF ASSETS.
New American Healthcare Corporation (the "Registrant") reports the
following disposition of assets to inform its security holders:
On April 17, 2000 Essent Healthcare of Missouri, Inc. purchased
substantially all of the assets of Doctors Hospital a 94-bed acute care hospital
in Wentzville, Missouri. The sale was made pursuant to an Asset Purchase
Agreement dated as of April 3, 2000 by and among Essent Healthcare of Missouri,
Inc., New American Healthcare Corporation, and NAHC of Missouri, Inc.
The purchase price was approximately $6 million plus working capital,
payable in cash. Prior to this transaction, no material relationship existed
between Seller and the Registrant or any of its affiliates, any director or
officer of the Registrant, or any associate of such director or officer.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable.
(b) Pro forma financial information. It is impracticable at this time
to provide the required pro forma financial information of the disposed assets
described in Item 2. This information will be provided within 60 days by an
amendment to this report.
(c) Exhibits. The exhibit filed as a part of this report is listed in
the Index to Exhibits immediately following the signature page.
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
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Senior Vice President
Chief Financial Officer
Date: April 19, 2000
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EXHIBIT INDEX
Exhibit No.
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99.1 Press Release of the Registrant issued April 17, 2000.
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Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact: New American Healthcare Corporation Essent Healthcare
Dana C. McLendon, Jr. David Jarrard or
SVP and CAO Tiffany Utsman
615-309-2008 615-254-0575
NEW AMERICAN HEALTHCARE COMPLETES SALE OF
DOCTORS HOSPITAL, WENTZVILLE, MISSOURI
NASHVILLE, Tennessee - April 17, 2000 -- New American Healthcare Corporation
today announced that it has completed its previously announced sale of Doctors
Hospital of Wentzville, Missouri to Essent Healthcare, Nashville, Tennessee.
Terms of the agreement were not disclosed.
Commenting on the completion of the sale, Tom Singleton, President and CEO of
New American said, "We are pleased to have found a qualified purchaser with
demonstrated expertise in managing hospitals similar to Doctors. We believe
Essent will be good stewards of the public trust."
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. The Company currently owns eight acute
care hospitals in six states. 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 regarding New American
Healthcare involve a number of risks and uncertainties, including but not
limited to liquidity and trading in the Company's common stock and other risk
factors detailed in the Company's Securities and Exchange Commission filings.
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