NASHVILLE, Tenn., May 19 /PRNewswire/ -- Columbia/HCA Healthcare Corporation (NYSE: COL) today announced that it has effectively acquired full ownership of four premier hospitals in London, England by purchasing the 50 percent interest of its joint venture partner for approximately $110 million.

Columbia/HCA and PPP healthcare limited, the health insurance unit of British insurer Sun Life & Provincial Holdings Plc, have been partners in a joint venture since 1996. The four hospitals, the Harley Street Clinic, the Portland Hospital for Women and Children, the Princess Grace Hospital and the Wellington Hospital, which include approximately 600 licensed beds, are widely recognized as the leading private hospitals in England.

The Harley Street Clinic, a 106-bed hospital, is known for its highly regarded cardiology program in addition to its recently opened state-of-the- art cancer treatment center. The 115-bed Princess Grace Hospital specializes in orthopedics, general surgery, oncology, gastroenterology and kidney-related treatments and procedures. The Portland Hospital for Women and Children is a 104-bed facility known for its obstetrics, pediatrics and gynecology programs. The Wellington Hospital, which recently opened a comprehensive neuro- rehabilitation unit, is a 274-bed facility that also specializes in cardiology and orthopedics.

"We are pleased to build on a strong foundation and effectively take full ownership of these fine hospitals," said John Kausch, President of International Operations for Columbia/HCA. "This supports our company strategy of focusing on communities where we have a leadership position."

This press release contains forward-looking statements based on management's current expectations. Numerous risks, uncertainties and other factors including: (i) the outcome of the known and unknown governmental investigations and litigation involving the Company's business practices, (ii) the highly competitive nature of the health care business, (iii) the efforts of insurers, health care providers and others to contain health care costs, (iv) possible changes in the Medicare program that may further limit reimbursements to health care providers and insurers, (v) changes in Federal, state or local regulation affecting the health care industry, (vi) the possible enactment of Federal or state health care reform, (vii) the ability to attract and retain qualified management and personnel, including physicians, (viii) liabilities and other claims asserted against the Company, (ix) fluctuations in the market value of the Company's common stock, (x) ability to complete the share repurchase program, (xi) changes in accounting practices, (xii) changes in general economic conditions, (xiii) future divestitures which may result in additional charges, (xiv) the ability to enter into managed care provider arrangements on acceptable terms, (xv) the availability and terms of capital to fund the expansion of the Company's business, (xvi) changes in business strategy or development plans, (xvii) slowness of reimbursement, (xviii) the ability to implement its shared services strategy, and those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine the Company's future results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and therefore, actual results may differ materially.

Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or 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 "Company" and "Columbia/HCA" as used throughout this document refer to Columbia/HCA Healthcare Corporation and its affiliates.
SOURCE Columbia/HCA Healthcare Corporation
CONTACT: investors, Mark Kimbrough, 615-344-2688, or media, Jeff Prescott, 615-344-5708, both of Columbia-HCA Healthcare Corporation