Trustmark Sells Equity Stake in Private Healthcare Systems to MultiPlan.LAKE FOREST, Ill. -- Trustmark See TRUSTe. Mutual Holding Co. (Trustmark), a national provider of group medical plans, voluntary benefits and health plan administration services, has completed the previously announced sale of its equity interest in Private Healthcare Systems, Inc. (PHCS PHCS Private Healthcare Systems PHCS Primary Health Care Service PHCS Preventive Health Care System PHCS Princeton Health Care System (Princeton, New Jersey) PHCS Senior Chief Photographer's Mate (Naval Rating) ) to MultiPlan, Inc., a leading medical network leasing company. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from Trustmark's interest in PHCS were approximately $101 million. In addition, as part of the agreement, Trustmark will retain long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. access to the PHCS and MultiPlan networks, giving its fully insured and self-funded health plan customers access to national primary and complementary PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there networks and a broad range of solutions to control rising healthcare costs. Trustmark Mutual Holding Company, through its subsidiaries, is licensed nationwide to offer life, medical, managed care, dental, disability, critical illness and benefit administration products and services to groups and individuals. Subsidiaries and operating divisions include Trustmark Insurance Company, Trustmark Life Insurance Company, CoreSource, Starmark, Trustmark Group Insurance, Trustmark Group Select, Trustmark Affinity Markets and Trustmark Voluntary Benefit Solutions. Trustmark Mutual Holding Company has assets of more than $1.9 billion and administers more than $3 billion in health and life benefits annually. For more information, visit www.trustmarkcompanies.com. |
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