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SIERRA TUCSON COMPANIES INC. ANNOUNCES RESOLUTION OF BLUE CROSS OF ARIZONA LAWSUIT

 SIERRA TUCSON COMPANIES INC. ANNOUNCES RESOLUTION
 OF BLUE CROSS OF ARIZONA LAWSUIT
 TUCSON, Ariz., Oct. 28 /PRNewswire/ -- Sierra Tucson Companies Inc. (NASDAQ: STSN), announced today that Blue Cross and Blue Shield of Arizona had withdrawn, effective Oct. 16, 1992, its previously issued notice of termination of the company's provider agreement. That termination notice, delivered by Blue Cross in July, would have terminated the company's status as a Blue Cross participating provider effective Jan. 4, 1993. Blue Cross's termination notice prompted the filing of a federal antitrust lawsuit by Sierra Tucson. Sierra Tucson will maintain its status as a participating provider with Blue Cross, as a result of the withdrawal of the notice. Sierra Tucson has agreed to dismiss the lawsuit, because of the resolution of this and other significant issues between the parties.
 "Blue Cross's withdrawal of the termination notice is a positive outcome for Sierra Tucson," said William T. O'Donnell Jr., president and chairman of the board. "Sierra Tucson will maintain its status as a participating provider with Blue Cross. This resolution provides a foundation for both parties to move forward in a more productive relationship."
 -0- 10/28/92
 /CONTACT: John H. Schmitz, executive VP, or Jim Rianoshek, investor relations of Sierra Tucson, 602-792-5800/
 (STSN) CO: Sierra Tucson Companies Inc. ST: Arizona IN: HEA SU:


EH -- LA016 -- 5897 10/28/92 10:35 EST
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Publication:PR Newswire
Date:Oct 28, 1992
Words:226
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