Brentwood-based New American Healthcare Corp. launches and quickly begins acquiring and operating rural, acute-care hospitals throughout the United States. NAHC starts with $50 million in capital committed by Welsh, Carson, Anderson & Stowe.

Founder Robert Martin will serve as CEO and chairman of the board until one year before NAHC files for bankruptcy in 2000. Formerly with HealthTrust, he goes on to a VP role with Vanguard Health Systems, rejoining serial entrepreneur Charlie Martin.