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Owensboro Medical Health System Announces Results of Its 'Modified Dutch Auction' Tender Offer

Friday, September 18, 2009 General News J E 4
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OWENSBORO, Ky., July 21 Owensboro Medical Health System, Inc. today announced the results of its "Modified Dutch Auction" tender offer for a portion of the 2001 Series B and Series C Health System Variable Rate Revenue Bonds (Owensboro Mercy Health System, Inc.) issued by the City of Owensboro, Kentucky, the proceeds of which were loaned to OMHS. The offer expired at 12:00 p.m., New York City time, on Monday, July 20, 2009.

OMHS has accepted for payment $13,850,000 aggregate principal amount of bonds at a purchase price of $960 per $1,000 principal amount, for a total cost of $13,296,000, plus accrued and unpaid interest up to, but not including, the settlement date of July 23, 2009.

Based on the final count by Wells Fargo Bank, National Association, the depositary for the tender offer, $13,850,000 aggregate principal amount of bonds were properly tendered and not withdrawn in the tender offer. Accordingly, there will be no proration of tenders received in the tender offer. All bonds properly tendered at or below the final purchase price have been accepted for payment. The depositary will make payment for the bonds accepted for purchase on the settlement date through the book-entry facilities of the Depository Trust Company.

Owensboro Medical Health System serves an 11-county region in Western Kentucky and Southern Indiana. The hospital received the HealthGrades Distinguished Hospital for Clinical Excellence Award in 2009, placing it among the top five percent of hospitals in the nation for quality. OMHS is a full-service hospital, employing a workforce of over 3,100. In addition to hospital and rehabilitation services, OMHS includes the HealthPark - a medical-based fitness center - home health services, a wound healing center, three outpatient diagnostic centers, the Mitchell Memorial Cancer Center and the McAuley Clinic, which provides healthcare for the uninsured. OMHS also operates Convenient Care, Pennyrile Pulmonary Critical Care and Western Kentucky Rheumatology Center, Owensboro; and MultiCare in Madisonville and Tell City (IN).

Important Information

This press release is for informational purposes only and is neither an offer to buy, nor the solicitation of an offer to sell, any securities.

SOURCE Owensboro Medical Health System, Inc.
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