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LifePoint Hospitals, Inc. Completes Sale of Coastal Carolina Medical Center to Tenet

Posted on: Monday, 2 July 2007, 09:22 CDT

LifePoint Hospitals, Inc. (NASDAQ: LPNT) today announced that it has completed its sale, effective July 1, 2007, of Coastal Carolina Medical Center, a 41-bed acute care hospital located in Hardeeville, South Carolina, to Tenet Healthcare Corporation (NYSE: THC). Proceeds from the sale of approximately $35 million will be used to pay down a portion of the Company's outstanding debt.

In commenting on the announcement, William F. Carpenter III, president and chief executive officer of LifePoint Hospitals, said, "We believe Coastal Carolina Medical Center will be an ideal strategic fit for Tenet as they operate another hospital just 27 miles from Coastal Carolina. We are confident that hospital employees, physicians and patients of Coastal Carolina as well as the residents of Hardeeville and the surrounding area are in excellent hands."

LifePoint Hospitals, Inc. is a leading hospital company focused on providing healthcare services in non-urban communities in 18 states. Of the Company's 49 hospitals, 46 are in communities where LifePoint Hospitals is the sole community hospital provider. LifePoint Hospitals' non-urban operating strategy offers continued operational improvement by focusing on its five core values: delivering compassionate, high quality patient care; supporting physicians; creating an outstanding environment for employees; providing unmatched community value and ensuring fiscal responsibility. Headquartered in Brentwood, Tennessee, LifePoint Hospitals is affiliated with approximately 21,000 employees. More information about LifePoint Hospitals can be found on its website, www.lifepointhospitals.com.

Important Legal Information

Certain statements contained in this release are based on current management expectations and are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to qualify for the safe harbor protections from liability provided by the Private Securities Litigation Reform Act of 1995. Numerous factors exist which may cause results to differ from these expectations. Many of the factors that will determine LifePoint's future results are beyond LifePoint's ability to control or predict with accuracy. Such forward-looking statements reflect the current expectations and beliefs of the management of LifePoint, are not guarantees of performance and are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ from those described in the forward-looking statements. These forward-looking statements may also be subject to other risks and uncertainties, including, without limitation: (i) efforts by government and commercial third-party payors to reduce healthcare spending, including changes in the manner in which amounts that payors reimburse healthcare provided to covered individuals, including "high deductible" plans, increased co-pays and deductibles; (ii) possible changes or reductions in Medicare and Medicaid reimbursement payments; (iii) the possibility of adverse changes in or requirements of state and federal laws, regulations, policies and procedures applicable to the Company; (iv) the highly competitive nature of the healthcare business, including competition from outpatient facilities, physicians on the medical staffs of our hospitals, physician offices and facilities in larger towns and cities; (v) our ability to recruit and retain physicians, other healthcare professionals and management personnel; (vi) changes in the Company's operating or expansion strategy and, if made, our ability to successfully execute such changed strategies;(vii) the availability and terms of capital and liquidity to fund LifePoint's business strategies; (viii) the Company's substantial indebtedness and changes in interest rates, our credit ratings and the amount or terms of our indebtedness; (ix) the ability to manage healthcare risks, including those that could result in losses to us because we are significantly self-insured, as well as the availability, cost and terms of insurance coverage, malpractice litigation and governmental investigations; and (x) those other risks and uncertainties described from time to time in LifePoint's filings with the Securities and Exchange Commission. Therefore, LifePoint's future results may differ materially from those described in this release. LifePoint undertakes no obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

All references to "LifePoint,""LifePoint Hospitals" and the "Company" as used throughout this release refer to LifePoint Hospitals, Inc. and its subsidiaries.

Source: Business Wire

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