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
September 27, 1994
(Date of earliest event reported)
SUMMIT HEALTH LTD.
(Exact name of Registrant as specified in its charter)
California 0-11479 95-3154694
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
3401 West End Avenue, Nashville, Tennessee 37203
(Address of principal executive offices, including zip code)
(615) 383-8599
(Registrant's telephone number, including area code)
_____________________________________________________________
(Former name or former address, if changed since last report)
Item 5. Other Events
Effective September 27, 1994, Summit Health Ltd., a
California corporation ("SHL"), merged (the "Merger")
with and into OrNda HealthCorp ("OrNda"), with OrNda
being the surviving company in the Merger. Prior to the
Merger, SHL was a wholly owned subsidiary of OrNda.
As a result of the Merger, OrNda assumed liability
for payment of the principal of and premium, if any, and
interest on SHL's 7 1/2% Exchangeable Subordinated Notes
due 2003 (the "7 1/2% Notes") which were publicly issued
in 1993 in the aggregate principal amount of $37,440,000.
The 7 1/2% Notes are exchangeable by the holders
thereof for the shares of common stock, no par value, of
Summit Care Corporation (the "SC Shares") which are owned
by OrNda at any time after April 1, 1994 and prior to the
maturity of the 7 1/2% Notes at an exchange rate of
69.444 SC Shares per $1,000 principal amount of 7 1/2%
Notes (the equivalent of $14.40 per share), subject to
adjustment under certain circumstances. The SC Shares are
traded on the NASDAQ National Market System under the
symbol SUMC. The last reported sale price for a SC Share
on September 22, 1994 was $24.00 per share.
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 autho-
rized.
SUMMIT HEALTH LTD.
BY:/s/ Ronald P. Soltman
Ronald P. Soltman
Senior Vice President and
General Counsel
Date: September 27, 1994
