AmeriChoice Acquisition of Unison Health Plan Completed.Combined Companies Serve More Than Two Million People Across 21 States; Combination Extends AmeriChoice Service Area, Creating New Market Growth Opportunities MINNEAPOLIS, Minn. -- AmeriChoice, a UnitedHealth Group UnitedHealth Group Incorporated NYSE: UNH is a managed health care company. It is the parent of United Healthcare, one of the largest health insurers in the U.S. It was created in 1977, as UnitedHealthCare Corporation (it renamed itself in 1998), but traces its origin to a (NYSE NYSE See: New York Stock Exchange : UNH Unh The symbol for the element unnilhexium. ) company, today announced it had received all necessary regulatory approvals for its acquisition of Unison unison, in music, tones identical in pitch produced by two or more parts or voices. In popular usage a vocal composition is said to be sung in unison even though some of the voices are separated from others by the interval of an octave. Health Plans and the transaction has closed. On a combined basis, AmeriChoice and Unison serve more than two million beneficiaries of government-sponsored health care programs in 21 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , including Unison's operations in Pennsylvania, Ohio, Tennessee, Delaware, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and Washington, DC. Unison facilitates access to high-quality, cost-effective health care for traditionally underserved populations through its participation in state Medicaid, State Children's Health Children's Health Definition Children's health encompasses the physical, mental, emotional, and social well-being of children from infancy through adolescence. Insurance Programs (SCHIP SCHIP State Children's Health Insurance Program ), Adult Basic Programs and Medicare Special Needs Plans. Rick Jelinek, chief executive officer of AmeriChoice, said, "We are looking forward to working with the management and staff of Unison, the many fine physicians, hospitals and other health care professionals affiliated with the company and the states it serves to deliver quality health care services to its members." Dr. John Blank, M.D., Unison's president and chief executive officer, said, "Our combination with AmeriChoice is a tremendous opportunity for us to work with one of the most respected public sector health care program companies in the country and will give Unison access to assets and resources that will enable even stronger performance on behalf of our members and state sponsors." Unison provides government-sponsored health plan coverage to approximately 380,000 people through a network of 28,000 independent health care providers and a workforce of almost 1,000 employees. Current Unison management and staff will remain in place, and the company will operate under its current name as a subsidiary of AmeriChoice. Purchase price and other financial terms were not disclosed for this all-cash transaction. About UnitedHealth Group UnitedHealth Group is a diversified diversified (di·verˑ·s health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves more than 70 million individuals nationwide. About AmeriChoice AmeriChoice, the public sector health care unit of UnitedHealth Group, facilitates access to community-based, culturally-sensitive, quality health care for more than two million beneficiaries of Medicaid, Medicare and Children's Health Insurance Programs in 21 states across the country. AmeriChoice believes that health care cannot be provided effectively without consideration of the environmental factors that affect a person's life, and through its unique Personal Care Model, takes a holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. to health care, emphasizing practical programs to improve its members' living circumstances as well as their health. Visit www.americhoice.com for more information. About Unison With years of steady growth, Unison has become a leader in public sector health plans, serving approximately 380,000 members and 28,000 providers in Delaware, Ohio Delaware is a city in the U.S. state of Ohio and the county seat of Delaware CountyGR6. The municipality is located near the center of the state of Ohio, about 20 miles (32 km) north of Columbus, Ohio. Delaware was founded in 1808, incorporated in 1816. , Pennsylvania, South Carolina, Tennessee and Washington, DC. Unison provides high quality, cost effective health care and responsive customer service that empowers its members and providers to work together for better health. For additional information, visit www.unisonhealthplan.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release may contain statements, estimates, projections, guidance or outlook that constitute "forward-looking" statements as defined under U.S. federal securities laws. Generally the words "believe," "expect," "intend," "estimate," "anticipate," "plan," "project," "will" and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and uncertainties and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors, including Unison's service and financial performance after the acquisition. We do not undertake to update or revise any forward-looking statements. |
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