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Biotech / Medical : PHP Healthcare -- Ignore unavailable to you. Want to Upgrade?

To: Jim Mac who wrote (113)	11/11/1998 7:58:00 PM
From: Tri Bui	Respond to of 136

GOOD NEWS!!! Wednesday November 11, 6:41 pm Eastern Time Ambulatory Healtcare sets tender offer for PHP MANASSAS, Va., Nov. 11 (Reuters) - Privately-held Ambulatory Healthcare Corp. of America, a provider of outpatient health care, said Wednesday it launched a tender offer valued at about $22 million for Reston, Va.-based managed care organization PHP Healthcare Corp. (NYSE:PPH - news). The company has offered to pay $2 per share -- a substantial premium over Wednesday's closing price of 63 cents -- for PHP's more than 11 million shares outstanding, said William Danielczyk, Ambulatory Healthcare's president and chief executive. PHP, which traded as high as 32-1/4 in June of 1996, has seen its stock price erode amid some disappointing financial results. ''We think it is a good company,'' Danielczyk told Reuters. ''We want to treat the shareholders fairly.'' Danielczyk said the acquisition would give his company an opportunity to become a publicly-held company. He did not say whether Ambulatory Healthcare would attempt to take PHP private or leave it public. ''We are going to explore all avenues,'' he said. ''The game plan of our company is to one day go public.'' Ambulatory Healthcare owns and manages a multi-state network of outpatient health care services including medical rehabilitation, home health and ambulatory surgery. Danielczyk said in a statement he will be happy to meet with PHP's board or management, but also said ''bold action'' is needed to improve PHP's stock performance. More Quotes and News: PHP Healthcare Corp (NYSE:PPH - news) Related News Categories: options, US Market News

To: Jim Mac who wrote (113)	11/11/1998 8:00:00 PM
From: Tri Bui	Respond to of 136

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