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HEALTHSOURCE SIGNS LETTER OF INTENT TO PURCHASE MARYLAND HMO

 HEALTHSOURCE SIGNS LETTER OF INTENT TO PURCHASE MARYLAND HMO
 CONCORD, N.H., July 16 /PRNewswire/ -- Healthsource, Inc. (NASDAQ: HLTH), a leading operator of health maintenance organizations (HMOs) and managed health care services, announced today that it has signed a letter of intent to acquire the Delmarva Health Plan, Inc., of Easton, Md. Under the terms of the letter of intent, Healthsource will purchase 100 percent of the plan's outstanding stock for a total consideration of $4.25 million.
 Delmarva Health Plan serves the nine Maryland counties known as Eastern Shore and has more than 21,000 members. The plan reported 1991 revenues of approximately $25 million. Completion of the sale is contingent upon the negotiation of a definitive agreement, a satisfactory due diligence review, approval of the Maryland Department of Insurance, and certain other conditions.
 Norman C. Payson, M.D., chief executive officer of Healthsource said, "This opportunity in the underpenetrated eastern Maryland market is especially attractive to us as it fits with our strategy of working closely with physicians in secondary markets. We look forward to providing Maryland employers with quality and affordable managed health care for their Eastern Shore employees."
 Healthsource, Inc. sponsors or manages HMOs in New Hampshire, Maine, South Carolina, North Carolina, Tennessee, Indiana and New York and owns EBPA, the largest third-party claims administrator in New England. Healthsource also provides utilization review services and preferred provider networks primarily to self-insured employer plans and Blue Cross and Blue Shield of Vermont.
 -0- 7/16/92
 /CONTACT: Thomas Congoran, chief financial officer, or Tracey Turner, shareholder relations, 603-225-5077, of Healthsource; or Kerry Thalheim, 212-661-8030, or Kathy Waller, 312-266-7800, at the Financial Relations Board, Inc. for Healthsource/
 (HLTH) CO: Healthsource, Inc.; Delmarva Health Plan, Inc. ST: New Hampshire, Maryland IN: HEA SU: TNM


CN -- NE014 -- 9844 07/16/92 14:25 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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