NASHVILLE, Tenn., Feb. 22 /PRNewswire/ -- HCA Inc. announced today the preliminary results for its previously announced debt tender offer to purchase up to $500 million of its debt securities specified in the table below ("Notes"). The tender offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase dated February 7, 2008 and the related Letter of Transmittal.
The table below identifies the Notes that are the subject of the tender
offer, the "Acceptance Priority Level" for each series of Notes, the
maximum tender cap applicable to the 8.750% Notes due 2010 and the
principal amounts tendered as of 5:00 p.m., New York City time, on February
21, 2008, the early tender date. The early tender date has now passed and
withdrawal rights have terminated.
Principal Acceptance Tendered as of
CUSIP Title of Amount Maximum Priority Early Tender
Number Security Outstanding Tender Cap Level Date
404119AA7 8.750% $691,170,000 $200,000,000 1 $322,796,000
404119AC3 7.875% $475,820,000 -- 2 $253,037,000
404119AE9 6.950% $500,000,000 -- 2 $121,516,000
The tender offer will expire at 12:00 midnight, New York City time, on March 6, 2008, unless extended, and Notes may be validly tendered until such time. Holders validly tendering Notes after the early tender date will be eligible to receive only the tender offer consideration and will not be eligible to receive the early tender premium.
Citi is acting as dealer manager for the tender offer. The information agent and depositary for the tender offer is Global Bondholders Services Corporation. The tender offer is made only by the Offer to Purchase and the related Letter of Transmittal, and the information in this news release is qualified by reference to such documents. Persons with questions regarding the tender offer should contact Citi at (212) 723-6106 (collect) or (800) 558-3745 (toll-free). Requests for copies of the Offer to Purchase and Letter of Transmittal should be directed to Global Bondholders Services Corporation at (212) 430-3774 or (866) 470-4200 (toll-free).
This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offer to buy the Notes is only being made pursuant to the tender offer documents, including the Offer to Purchase. The tender offer is not being made to Noteholders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer is required to be made by a licensed broker or dealer, it shall be deemed to be made by the dealer manager on behalf of the Company.
About HCA Inc.
HCA Inc. is the nation's leading provider of healthcare services. As of December 31, 2007, we operated 169 hospitals and 108 freestanding surgery centers in 20 states and England (including eight hospitals and nine freestanding surgery centers operated through equity method joint ventures) and had approximately 186,000 employees. For the year ended December 31, 2007, we generated revenues of $26.858 billion and net income of $874 million.
This press release contains "forward-looking statements" which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words like "may," "believe," "will," "expect," "intend," "project," "estimate," "anticipate," "plan," "initiative" or "continue." These forward-looking statements are based on our current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond our control, which could significantly affect current plans and expectations and our future financial position and results of operations. These factors include, but are not limited to, (1) the ability to recognize the benefits of the recapitalization of the Company (the "Recapitalization") described in the Company's reports filed with the Securities and Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), (2) the impact of the substantial indebtedness incurred to finance the Recapitalization, (3) increases in the amount and risk of collectibility of uninsured accounts and deductibles and copayment amounts for insured accounts, (4) the ability to achieve operating and financial targets, and attain expected levels of patient volumes and control the costs of providing services, (5) possible changes in the Medicare, Medicaid and other state programs, including Medicaid supplemental payments pursuant to upper payment limit programs, that may impact reimbursements to health care providers and insurers, (6) the highly competitive nature of the health care business, (7) changes in revenue mix and the ability to enter into and renew managed care provider agreements on acceptable terms, (8) the efforts of insurers, health care providers and others to contain health care costs, (9) the outcome of our continuing efforts to monitor, maintain and comply with appropriate laws, regulations, policies and procedures and our Corporate Integrity Agreement with the government, (10) changes in federal, state or local laws or regulations affecting the health care industry, (11) increases in wages and the ability to attract and retain qualified management and personnel, including affiliated physicians, nurses and medical and technical support personnel, (12) the possible enactment of federal or state health care reform, (13) the availability and terms of capital to fund the expansion of our business and improvements to our existing facilities, (14) changes in accounting practices, (15) changes in general economic conditions nationally and regionally in our markets, (16) future divestitures which may result in charges, (17) changes in business strategy or development plans, (18) delays in receiving payments for services provided, (19) the outcome of pending and any future tax audits, appeals and litigation associated with our tax positions, (20) potential liabilities and other claims that may be asserted against us, (21) our ability to complete the tender offer and reduce interest expense and (22) other risk factors described in our Exchange Act reports and other filings with the Commission. As a consequence, current plans, anticipated actions and future financial position and results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release and the Offer to Purchase.
|SOURCE HCA Inc.|
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