BIRMINGHAM, Ala., March 1 /PRNewswire-FirstCall/ -- HealthSouth Corporation (the "Company") announced today that, in connection with its previously announced tender offers for any and all of the outstanding notes listed in the table below (the "Notes"), it is extending the expiration time of the tender offers to 5:00 p.m., New York City time, on March 6, 2006.
% of Aggregate
Principal Title of Amount Tendered
CUSIP/ISIN Number Amount Security to Date
421924AU5/US421924AU54 $180,300,000 7.375% Senior 90.78 %
Notes due 2006
421924AR2/US421924AR26 $343,000,000 8.500% Senior 97.15 %
Notes due 2008
421924AM3/US421924AM39 $250,000,000 7.000% Senior 97.94 %
Notes due 2008
421924AP6/US421924AP69 $319,260,000 10.750% Senior 90.38 %
Notes due 2008
421924AX9/US421924AX93 $347,700,000 8.375% Senior 99.77 %
421924AV3/US421924AV38 Notes due 2011
421924AZ4/US421924AZ42 $908,700,000 7.625% Senior 99.83 %
421924AY7/US421924AY76 Notes due 2012
Set forth in the table above is the percentage of the outstanding aggregate principal amount of the Notes that have been tendered as of 5:00 p.m., New York City time, on March 1, 2006. Holders who have already tendered their Notes and delivered their consents may no longer withdraw their Notes or revoke their consents.
As previously announced, the requisite consents to adopt the proposed amendments to the indentures governing the Notes have been received, and supplemental indentures to effect the proposed amendments described in the Offers to Purchase and Consent Solicitations Statement, dated February 2, 2006 (the "Statement") have been executed. However, the amendments will not become operative until the Notes are accepted for payment pursuant to the terms of the tender offers.
Except as set forth above, all other provisions of the tender offers and consent solicitations with respect to the Notes are as set forth in the Statement. The Company reserves the right to further amend or extend the tender offers and the consent solicitations in its sole discretion.
The tender offers and consent solicitations are being made solely on the terms and conditions set forth in the Statement. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the Notes or any other securities of the Company. This press release also is not a solicitation of consents to the proposed amendments to any indenture. None of the Company, the Dealer Managers or the Depositary and Information Agent makes any recommendation as to whether holders of the Notes should tender their Notes and no one has been authorized by any of them to make such recommendations. Holders must make their own decision as to whether to tender the Notes.
Requests for documents may be directed to Global Bondholder Services Corporation, the depositary and information agent for the offer, at 212-430- 3774 (collect) or 866-804-2200 (U.S. toll-free). Additional information concerning the tender offers and consent solicitations may be obtained by contacting Merrill Lynch & Co., Liability Management, (888) ML4-TNDR (U.S. toll-free) or (212) 449-4914 (collect), Citigroup Corporate and Investment Banking, Liability Management Group, (800) 558-3745 (U.S. toll-free) or (212) 723-6106 (collect) or J.P. Morgan Securities Inc., (866) 834-8666 (U.S. toll free) or (212) 834-4388 (collect).
HealthSouth is one of the nation's largest providers of outpatient surgery, diagnostic imaging and rehabilitative healthcare services, operating facilities nationwide. HealthSouth can be found on the Web at www.healthsouth.com.
Statements contained in this press release which are not historical facts are forward-looking statements. In addition, HealthSouth, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. HealthSouth's actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by HealthSouth include, but are not limited to: the investigation by the Department of Justice into HealthSouth's financial reporting and related activity calling into question the accuracy of the Company's previously filed financial statements; the outcome of pending litigation relating to these matters; significant changes in HealthSouth's management team; HealthSouth's ability to successfully refinance its existing indebtedness as it becomes due; HealthSouth's ability to continue to operate in the ordinary course and manage its relationships with its creditors, including its lenders, bondholders, vendors and suppliers, employees and customers; HealthSouth's ability to successfully remediate its internal control weaknesses; changes, delays in or suspension of reimbursement for HealthSouth's services by governmental or private payors; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and HealthSouth's response thereto; HealthSouth's ability to obtain and retain favorable arrangements with third-party payors; HealthSouth's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages; general conditions in the economy and capital markets; and other factors which may be identified from time to time in the Company's SEC filings and other public announcements, including HealthSouth's Form 10-K for the year ended December 31, 2004.
Andy Brimmer, 205-410-2777