HealthWise expands to Virginia.NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 18, 1995--HealthWise of America, a Nashville based owner and operator of health maintenance organizations, today announced that the Virginia Bureau of Insurance has provided tentative approval of the application of its subsidiary, Chesapeake Health Plan, Inc., to operate a health maintenance organization in Virginia. Ken Melkus, Chairman and Chief Executive Officer of HealthWise, stated, "We are extremely pleased to receive the Bureau's approval to operate an HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, in Virginia. Our initial focus will be in the Northern Virginia marketplace with future expansion statewide." HealthWise of America currently owns and operates HMOs in Maryland, Kentucky, Tennessee and Arkansas with June 30, 1995 enrollment of approximately 135,000 members and annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $200 million. Melkus added, "We are proud of our accomplishments to date and feel the geographic fit between our Baltimore operations and Northern Virginia is excellent. Our familiarity with the providers in this area and the high mobility of the work force should contribute to the attractiveness of our product offerings in Maryland, Virginia and 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). ." HealthWise of America is traded on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (National Market) under the symbol HOAM HOAM Hold on A Minute HOAM Home Owners Association of Mesa (Arizona) . CONTACT: HealthWise of America, Nashville Ken Melkus or Harold Simpson, 615/385-4666 |
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