Coastal Healthcare announces results of annual meeting; Shareholders approve name change to Coastal Physician Group.DURHAM, N.C.--(BUSINESS WIRE)--May 17, 1995--Corporate achievements, industry issues and trends addressed today at Coastal Healthcare Group's (NYSE NYSE See: New York Stock Exchange : DR) 4th Annual Meeting of Stockholders included the Company's strong and expanding position in key markets, new acquisitions and partnerships with physician groups and managed care organizations, challenging business segments, and the ever evolving role of the primary care physician from a "gatekeeper In an H.323 IP telephony or video environment, a gatekeeper is a device that manages domains and provides call control. It is used to translate user names into IP addresses, to authenticate users and to manage network resources. " to a "care manager". During the business portion of the Annual Meeting, shareholders approved a change in the Company's name to Coastal Physician Group, Inc. "In the past there has been some confusion in the market as to the type of health care services we provide because the term healthcare is broad in scope," said Steven M. Scott, M.D., Coastal's President and Chief Executive Officer. "We believe the new name will simplify and enhance our identity both in the markets in which we operate and in the investment community." "Coastal continues to be dedicated as physicians to quality care," Scott added. "So while the Company may own and/or operate managed care plans in certain markets, we have always been and will remain focused on a physician-oriented approach to health care." In addition to the name change, stockholders re-elected three members to the Company's Board of Directors to hold office for a term of three years: Steven M. Scott, M.D., Jacque J. Sokolov, M.D., and John P. Mahoney, M.D. Shareholders also approved an increase in the amount of Common Stock which the Company is authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to issue from 40,000,000 shares to 100,000,000 shares, and ratified rat·i·fy tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies To approve and give formal sanction to; confirm. See Synonyms at approve. the action of the Board of Directors in selecting KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Peat Marwick LLP LLP - Lower Layer Protocol as the Company's independent certified public accounts for the ensuing en·sue intr.v. en·sued, en·su·ing, en·sues 1. To follow as a consequence or result. See Synonyms at follow. 2. To take place subsequently. fiscal year. Coastal Physician Group, Inc. - is the largest publicly traded physician management company in the U.S. and provides a broad range of health care and administrative services to physicians, hospitals, employers, managed care programs and other health care providers. CONTACT: Coastal Healthcare Group, Inc. Dr. Steven M. Scott, 919/383-0355 or Edelman Financial Robert Borchert, 212/704-8293 |
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