ALTA HEALTH STRATEGIES TO BECOME FIRST HEALTH; ALTA TO TAKE ON NEW NAME IN COMBINATION OF OPERATIONS WITH OTHER FFMC SUBSIDIARY
ALTA HEALTH STRATEGIES TO BECOME FIRST HEALTH; ALTA TO TAKE ON NEW
NAME IN COMBINATION OF OPERATIONS WITH OTHER FFMC SUBSIDIARY
SALT LAKE CITY, Oct. 30 /PRNewswire/ -- Alta Health Strategies Inc., one of the nation's largest health care cost management organizations serving the self-insured market, announced today that the company will combine operations with First Health Services Corp. of Richmond, Va., and the organization's new name will be "First Health."
The change will be effective Jan. 1, 1993.
Alta Health Strategies Chairman and Chief Executive Officer W. Terry Nofsinger, who will assume the same titles in the new organization, said, "By combining the skills, talents and resources of Alta Health Strategies and First Health Services Corporation, we have a company that is positioned to offer the absolute best in high-quality, cost-effective health care management services in the years ahead. We feel the name 'First Health' appropriately reflects both our new image and our commitment to being the nation's premier provider of health care management services."
Harlan F. Seymour will become president and chief operating officer of the new combined organization.
Alta Health Strategies and First Health Services Corp. provide a broad range of health care management services, including claims administration, utilization review, provider networks, prescription drug management, insurance brokerage and data analysis and reporting.
Alta Health Strategies' services are marketed primarily to employers with self-funded group health benefit plans or employers with insured plans who are seeking health care management alternatives. Alta pays more than $2 billion in claims on behalf of its more than 1,000 clients and their 3 million covered employees and dependents nationwide each year.
First Health Services Corp.'s services are marketed primarily to State and Federal governments, and major commercial insurance and health care organizations that desire advanced computer techniques to streamline and automate claims administration. This automation effectively manages the utilization of health care services, thereby increasing the quality of health care delivery. First Health Services Corp. annually processes more than 125 million claims worth $11 billion and provides specialty drug utilization review and mental health and substance abuse services for more than 5 million individuals.
Both Alta Health Strategies and First Health Services Corp. are wholly-owned subsidiaries of First Financial Management Corp. (FFMC) (NYSE: FFM) of Atlanta.
FFMC is a national leader in information services, offering a vertically integrated set of data processing, storage and management products for the capture, manipulation and distribution of data. Services include merchant credit card authorization, processing and settlement; check guarantee and verification; debt collection and accounts receivable management; data imaging, micrographics and electronic data base management; data processing for financial institutions; integrated health care management services; and the development and marketing of data communications and information processing systems. Additionally, FFMC owns the largest savings institution in Georgia. Its common stock is traded on the NYSE under the symbol FFM.
/CONTACT: W. Terry Nofsinger of Alta Health Strategies, 801-568-5500/
(FFM) CO: Alta Health Strategies Inc.; First Health Services Corp. ST: Utah IN: HEA SU:
MC-BB -- DV002 -- 7063 10/30/92 11:07 EST