content: Total Number of Pages:  6
  Exhibit Index on Sequential Page No.:  3
  
  
  
  
                         SECURITIES AND EXCHANGE COMMISSION
  
                               Washington, D.C. 20549
  
  
  
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
  
  
  
                         Pursuant to Section 13 or 15(d) of
                         the Securities Exchange Act of 1934
  
  
  Date of Report (Date of earliest event reported): March 26, 1996
  
  
  
                                  ORNDA HEALTHCORP
               (Exact name of registrant as specified in its charter)
  
  
                                      DELAWARE
                   (State or other jurisdiction of incorporation)
  
  
          1-11591                                           75-1776092
  (Commission File Number)                      (IRS Employer Identification No.)
  
  3401 West End Avenue, Nashville, Tennessee                   37203
  (Address of principal executive office)                    (Zip Code)
  
  Registrant's telephone number, including area code:  (615) 383-8599
  <PAGE>
  Item 5.   Other Events.
  
       The Registrant hereby incorporates by reference the information about
  the Registrant set forth in Exhibit 99 attached hereto.
  
  Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.
  
       (c)  Exhibits.
  
       99   The first two pages of Registrant's news release dated March 26, 1996.
  
  
                                     SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934,
  the Registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                     ORNDA HEALTHCORP
  
                                     (Signature)
                                     Ronald P. Soltman
                                     Senior Vice President, Secretary
                                     and General Counsel
  
  Date:    March 26, 1996
  
                                         2
  <PAGE>
                                    EXHIBIT INDEX
  
                                                                       Sequential
  No.  Subject Matter                                                    Page No.
  
  99   The first two pages of Registrant's news release
       dated March 26, 1996 ....................................................4
  
                                         3
  <PAGE>
  [ORNDA HEALTHCORP NEWS RELEASE LETTERHEAD]
  
  FOR IMMEDIATE RELEASE:
  
  Contact:          Keith B. Pitts
                    Executive Vice President and Chief Financial Officer
                      or
                    Trip Pilgrim
                    Director of Investor Relations
                    OrNda HealthCorp
                    (615) 383-8599
  
                              ORNDA HEALTHCORP REPORTS
                             SECOND QUARTER EPS OF $0.46
  
  NASHVILLE, Tennessee (March 26, 1996) -- OrNda HealthCorp (NYSE:ORN) today
  reported that earnings per share rose to $0.46 on 60.0 million weighted average
  common and common equivalent shares for the second quarter ended February 29,
  1996, compared with $0.43 on 44.6 million weighted average common and common
  equivalent shares for the same period last year. The majority of the increase in
  weighted average common and common equivalent shares is due to the issuance of
  11.5 million common shares and the conversion of 1.4 million shares of
  convertible preferred stock to common shares in November 1995.
  
           Revenue for the second quarter of fiscal 1996 was $542.9 million
  compared with $442.7 million in last year's second quarter. OrNda's EBITDA
  margin improved to 15.9% for the second quarter of fiscal 1996 compared with
  14.8% in the same period last year. Net income for the three months ended
  February 29, 1996, was $27.5 million compared with net income of $19.9 million
  last year.
  
           Earnings per share for the six months ended February 29, 1996,
  increased to $0.86 compared with $0.72 in the same period last year. For the six
  months ended February 29, 1996, revenues were $1.0 billion compared with $860.7
  million last year. The Company's EBITDA margin increased to 15.2% from 14.5% for
  the same six-month period last year. Net income increased to $47.4 million for
  the first six-month period of fiscal 1996 compared with $33.3 million in the
  same period of fiscal 1995. On a fully diluted basis, earnings per share for the
  six months ended February 29, 1996, and February 28, 1995, were $0.85 and $0.72,
  respectively.
  
  
  
                                      - MORE -
  <PAGE>
  ORN Reports Second Quarter Results
  Page 2
  March 26, 1996
  
           Same hospital admissions increased 3.7% and same hospital revenues rose
  7.2% in the second quarter of fiscal 1996 compared with the same period last
  year. For the six months ended February 29, 1996, same hospital admissions
  increased 3.2% and same hospital revenues increased 7.2%.
  
           Charles N. Martin, Jr., chairman, president and chief executive officer
  of OrNda HealthCorp, said, "Our continuing success in increasing admissions,
  expanding ancillary services and managing resource consumption is fueling our
  strong earnings and revenue growth. Also, our proactive approach to managed care
  is having a beneficial impact on profitability."
  
           Mr. Martin added, "Our favorable experience in operating hospitals
  where managed care has a high penetration rate has helped us to prepare all our
  facilities for the challenge of managed care. Along with our ability to manage
  costs and expand services, we enhance profitability with significantly increased
  patient volume. OrNda's consistent EBITDA margin improvement is testimony to our
  success in operating within this cost-sensitive managed care environment. Our
  pending entry into Massachusetts demonstrates the confidence we have in our
  ability to operate in regions with a strong managed care presence."
  
           The Company recently announced three major pending acquisitions. First,
  OrNda announced that it was entering into a strategic partnership with The
  Fallon Healthcare System in Worcester, Massachusetts, and had signed a letter of
  intent to acquire Saint Vincent Healthcare System, consisting of a 432-bed acute
  teaching hospital, three skilled nursing facilities and other healthcare related
  companies. Terms of the transaction also would include OrNda's purchase of a
  minority interest in the Fallon Clinic, a 280-member multi-specialty group
  physician practice.
  
           Second, the Company announced that it has signed a definitive agreement
  to acquire the healthcare related businesses of Centinela Valley Health
  Services, Inc., including Centinela Hospital Medical Center, a 400-bed acute
  care facility in Inglewood, California; a group of eight primary care clinics;
  Centinela Hospital Airport Medical Clinic; and other related businesses.
  Centinela will be OrNda's sixteenth Los Angeles and Orange County facility.
  
           Third, as an addition to the Company's existing network in northwest
  Houston, Texas, the Company has signed a letter of intent to acquire Cypress
  Fairbanks Medical Center, a 149-bed acute care hospital and related healthcare
  facilities.
  
           OrNda HealthCorp, based in Nashville, Tennessee, is the third largest
  investor-owned hospital management company in the United States. It is a leading
  provider of health care services, delivering a broad range of inpatient and
  outpatient health care services principally through the operation of 48
  hospitals located in urban and suburban communities in 14 states.
  
                                       -###-
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metadata_filer: {"company-data": {"conformed-name": "ORNDA HEALTHCORP", "cik": "0000719242", "assigned-sic": "8060", "irs-number": "751776092", "state-of-incorporation": "DE", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11591", "film-number": "96538556"}, "business-address": {"street1": "3401 W END AVE STE 700", "city": "NASHVILLE", "state": "TN", "zip": "37203-1042", "phone": "6153838599"}, "mail-address": {"street1": "3401 WEST END AVE", "street2": "SUITE 700", "city": "NASHVILLE", "state": "TN", "zip": "37203-1042"}, "former-company": {"former-conformed-name": "REPUBLIC HEALTH CORP", "date-changed": "19920415"}}
text: Total Number of Pages:  6
  Exhibit Index on Sequential Page No.:  3
  
                         SECURITIES AND EXCHANGE COMMISSION
  
                               Washington, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
                         Pursuant to Section 13 or 15(d) of
                         the Securities Exchange Act of 1934
  
  Date of Report (Date of earliest event reported): March 26, 1996
  
                                  ORNDA HEALTHCORP
               (Exact name of registrant as specified in its charter)
  
                                      DELAWARE
                   (State or other jurisdiction of incorporation)
  
          1-11591                                           75-1776092
  (Commission File Number)                      (IRS Employer Identification No.)
  
  3401 West End Avenue, Nashville, Tennessee                   37203
  (Address of principal executive office)                    (Zip Code)
  
  Registrant's telephone number, including area code:  (615) 383-8599
  Item 5.   Other Events.
  
       The Registrant hereby incorporates by reference the information about
  the Registrant set forth in Exhibit 99 attached hereto.
  
  Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.
  
       (c)  Exhibits.
  
       99   The first two pages of Registrant's news release dated March 26, 1996.
  
                                     SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934,
  the Registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                     ORNDA HEALTHCORP
  
                                     (Signature)
                                     Ronald P. Soltman
                                     Senior Vice President, Secretary
                                     and General Counsel
  
  Date:    March 26, 1996
  
                                         2
  EXHIBIT INDEX
  
                                                                       Sequential
  No.  Subject Matter                                                    Page No.
  
  99   The first two pages of Registrant's news release
       dated March 26, 1996 ....................................................4
  
                                         3
  [ORNDA HEALTHCORP NEWS RELEASE LETTERHEAD]
  
  FOR IMMEDIATE RELEASE:
  
  Contact:          Keith B. Pitts
                    Executive Vice President and Chief Financial Officer
                      or
                    Trip Pilgrim
                    Director of Investor Relations
                    OrNda HealthCorp
                    (615) 383-8599
  
                              ORNDA HEALTHCORP REPORTS
                             SECOND QUARTER EPS OF $0.46
  
  NASHVILLE, Tennessee (March 26, 1996) -- OrNda HealthCorp (NYSE:ORN) today
  reported that earnings per share rose to $0.46 on 60.0 million weighted average
  common and common equivalent shares for the second quarter ended February 29,
  1996, compared with $0.43 on 44.6 million weighted average common and common
  equivalent shares for the same period last year. The majority of the increase in
  weighted average common and common equivalent shares is due to the issuance of
  11.5 million common shares and the conversion of 1.4 million shares of
  convertible preferred stock to common shares in November 1995.
  
           Revenue for the second quarter of fiscal 1996 was $542.9 million
  compared with $442.7 million in last year's second quarter. OrNda's EBITDA
  margin improved to 15.9% for the second quarter of fiscal 1996 compared with
  14.8% in the same period last year. Net income for the three months ended
  February 29, 1996, was $27.5 million compared with net income of $19.9 million
  last year.
  
           Earnings per share for the six months ended February 29, 1996,
  increased to $0.86 compared with $0.72 in the same period last year. For the six
  months ended February 29, 1996, revenues were $1.0 billion compared with $860.7
  million last year. The Company's EBITDA margin increased to 15.2% from 14.5% for
  the same six-month period last year. Net income increased to $47.4 million for
  the first six-month period of fiscal 1996 compared with $33.3 million in the
  same period of fiscal 1995. On a fully diluted basis, earnings per share for the
  six months ended February 29, 1996, and February 28, 1995, were $0.85 and $0.72,
  respectively.
  
                                      - MORE -
  ORN Reports Second Quarter Results
  Page 2
  March 26, 1996
  
           Same hospital admissions increased 3.7% and same hospital revenues rose
  7.2% in the second quarter of fiscal 1996 compared with the same period last
  year. For the six months ended February 29, 1996, same hospital admissions
  increased 3.2% and same hospital revenues increased 7.2%.
  
           Charles N. Martin, Jr., chairman, president and chief executive officer
  of OrNda HealthCorp, said, "Our continuing success in increasing admissions,
  expanding ancillary services and managing resource consumption is fueling our
  strong earnings and revenue growth. Also, our proactive approach to managed care
  is having a beneficial impact on profitability."
  
           Mr. Martin added, "Our favorable experience in operating hospitals
  where managed care has a high penetration rate has helped us to prepare all our
  facilities for the challenge of managed care. Along with our ability to manage
  costs and expand services, we enhance profitability with significantly increased
  patient volume. OrNda's consistent EBITDA margin improvement is testimony to our
  success in operating within this cost-sensitive managed care environment. Our
  pending entry into Massachusetts demonstrates the confidence we have in our
  ability to operate in regions with a strong managed care presence."
  
           The Company recently announced three major pending acquisitions. First,
  OrNda announced that it was entering into a strategic partnership with The
  Fallon Healthcare System in Worcester, Massachusetts, and had signed a letter of
  intent to acquire Saint Vincent Healthcare System, consisting of a 432-bed acute
  teaching hospital, three skilled nursing facilities and other healthcare related
  companies. Terms of the transaction also would include OrNda's purchase of a
  minority interest in the Fallon Clinic, a 280-member multi-specialty group
  physician practice.
  
           Second, the Company announced that it has signed a definitive agreement
  to acquire the healthcare related businesses of Centinela Valley Health
  Services, Inc., including Centinela Hospital Medical Center, a 400-bed acute
  care facility in Inglewood, California; a group of eight primary care clinics;
  Centinela Hospital Airport Medical Clinic; and other related businesses.
  Centinela will be OrNda's sixteenth Los Angeles and Orange County facility.
  
           Third, as an addition to the Company's existing network in northwest
  Houston, Texas, the Company has signed a letter of intent to acquire Cypress
  Fairbanks Medical Center, a 149-bed acute care hospital and related healthcare
  facilities.
  
           OrNda HealthCorp, based in Nashville, Tennessee, is the third largest
  investor-owned hospital management company in the United States. It is a leading
  provider of health care services, delivering a broad range of inpatient and
  outpatient health care services principally through the operation of 48
  hospitals located in urban and suburban communities in 14 states.
  
                                       -###-