NEWS NEWS!!!!!
Wednesday November 11, 5:41 pm Eastern Time
Company Press Release
Ambulatory Healthcare Corporation Of America Tenders Offer
To Acquire PHP Healthcare Corp.
MANASSAS, Va.--(BUSINESS WIRE)--Nov. 11, 1998--Ambulatory Healthcare Corporation of America (AHCA), a Manassas-based
company specializing in outpatient health care services, tendered an offer this morning to acquire the outstanding shares of PHP
Healthcare Corporation [NYSE:PPH - news], a full-service managed care organization headquartered in Reston, Va.
PHP manages medical risk in three venues: provider services networks developed by PHP; global capitation arrangements with HMOs
and other health care payors; and government services contracts involving corrections medicine and CHAMPUS. PHP operates more
than 75 health care projects in 28 states.
AHCA owns and manages a multi-state network of integrated and innovative outpatient health care services including medical
rehabilitation, home health, and ambulatory surgery. AHCA also manages physician practices. AHCA was named one of the fastest
growing private companies in the country by Inc. magazine, which released its annual ranking of the Inc. 500 on Oct. 14, 1998.
William P. Danielczyk, president and chief executive officer of Ambulatory Healthcare Corporation of America, stated, ''PHP
shareholders have seen their stock value plummet during the past 12 to 18 months. We offer PHP a new beginning with a new vision
and a new mission.''
Danielczyk went on to say that he will be happy to meet with PHP's Board of Directors or management, but made it clear that bold
action is needed to restore public confidence in PHP and improve stock performance.
Contact:
Ambulatory Healthcare Corporation of America
Debra O'Connell, vice president of Marketing
703/361-9731
fax: 703/368-1039 FAX
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