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U.S. HEALTHCARE ANNOUNCES SPECIAL DIVIDEND OF ITS U.S. BIOSCIENCE HOLDINGS

 U.S. HEALTHCARE ANNOUNCES SPECIAL DIVIDEND
 OF ITS U.S. BIOSCIENCE HOLDINGS
 BLUE BELL, Pa., June 1 /PRNewswire/ -- U.S. Healthcare, Inc. (NASDAQ: USHC), one of the nation's leading providers of managed health care services, today announced a special dividend in the form of shares of U.S. Bioscience, Inc. (AMEX: UBS).
 U.S. Healthcare will distribute to its shareholders its remaining investment of approximately 6.7 million shares of U.S. Bioscience common stock. The distribution will be made on or about Aug. 10, 1992 to holders of record as of July 29, 1992. U.S. Healthcare shareholders will receive one U.S. Bioscience common share for approximately each 11 shares of U.S. Healthcare stock held as of the record date. Cash will be paid to shareholders in lieu of any fractional shares.
 U.S. Bioscience shares are traded on the American Stock Exchange. On Friday, May 29 the stock closed at $11.50 a share.
 U.S. Healthcare provides managed health care services through its HMOs in Pennsylvania, New Jersey, New York, Delaware, Connecticut, Massachusetts, New Hampshire and Maryland. The company also provides a variety of managed health care services to self-insured and other employers.
 -0- 6/1/92
 /CONTACT: Costas C. Nicolaides, executive vice president & chief financial officer of U.S. Healthcare, 215-283-6843/ CO: U.S. Healthcare, Inc.; U.S. Bioscience, Inc. ST: Pennsylvania IN: HEA SU: DIV


TS -- NY008 -- 5455 06/01/92 06:21 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
Words:241
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