For Immediate Release

Regency Hospital Company Announces South Atlanta Hospital Approved

Atlanta, Georgia, November 12, 2002–Regency Hospital Company today announced it has been approved by the State of Georgia to develop a 40-bed long-term acute care (LTAC) hospital within South Fulton Medical Center (SFMC), a Tenet Healthcare facility in South Atlanta. Regency Hospital Company, working in collaboration with South Fulton Medical Center, will begin renovations immediately, and expects to open the specialty hospital by May 15, 2003.

“We are very pleased about the news of the CON approval and honored to be selected by South Fulton Medical Center and Tenet Healthcare as the LTAC provider,” said Rod Laughlin, President & CEO of Regency Hospital Company. “South Fulton Medical Center recognized a need to expand the continuum of care available to the Atlanta community. We look forward to providing these highly specialized services to the people of South Atlanta,” he continued.

“The addition of a long-term acute care hospital within the walls of SFMC is yet another milestone in SFMC’s journey to become recognized as the best community hospital in Georgia. We chose Regency Hospital Company as the LTAC provider because its commitment to excellence in customer service and quality medical care fits with our culture of striving to provide 5-star service for each of our patients,” said Andrew Agwunobi, M.D., M.B.A., Chief Executive Officer, South Fulton Medical Center.

Regency hospitals provide specialized treatment for chronically ill acute level patients whose severity of illness requires that they receive acute level care for an extended period of time. Many of these patients have complex medical conditions and may require life support. Regency is a leading developer and operator of long-term acute care (LTAC) hospitals in the United States. The Company collaborates with medical surgical hospitals to operate separately licensed LTAC hospitals within their facilities providing high quality solutions for the hospital’s medically complex patients. More information is available at www.regencyhospital.com or www.ltac.com

Tenet Healthcare, through its subsidiaries, owns and operates 115 acute care hospitals with 28,502 beds and numerous related health care services. Its hospitals and subsidiaries employ approximately 113,750 people serving communities in 17 states. Tenet’s name reflects its core business philosophy: the importance of shared values among partners--including employees, physicians, insurers and communities--in providing a full spectrum of health care. Tenet can be found on the web at www.tenethealth.com

South Fulton Medical Center, a 392-bed acute care hospital was acquired by a subsidiary of the Tenet Healthcare Corporation in April of this year when it joined four other hospitals that comprise Tenet’s greater Atlanta network. In addition to emergency care, the hospital offers cardiac care, physical and occupational rehabilitation, inpatient oncology, ambulatory surgery and labor and delivery. The hospital also has a level-two neonatal intensive care unit. For more information, go to www.southfultonmedicalcenter.com

Regency was formed by Waud Capital Partners, L.L.C. and management to develop and operate LTACs throughout the United States. Founded in 1993, Waud Capital Partners, L.L.C. is a private equity investment firm that partners with management to acquire or develop outstanding middle market businesses. WCP invests in a broad range of companies and industries with strong growth characteristics. More information about the firm can be found at www.waudcapital.com.

For more information contact:
Rod Laughlin,
President & CEO
Regency Hospital Company
3159 Royal Drive, Suite 320
Alpharetta, GA 30022
770-772-4345
rlaughlin@regencyhospital.com
www.regencyhospital.com

Reeve Waud, Founder and Managing Partner
Waud Capital Partners, L.L.C.
560 Oakwood Avenue, Suite 203
Lake Forest, IL 60045
847-604-9550
rwaud@waudcapital.com
www.waudcapital.com

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