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U.S. HEALTHCARE REPORTS RESULTS FOR THE FIRST QUARTER

 U.S. HEALTHCARE REPORTS RESULTS FOR THE FIRST QUARTER
 BLUE BELL, Pa., April 27 /PRNewswire/ -- U.S. Healthcare, Inc.


(NASDAQ: USHC), one of the nation's leading providers of managed health care services, today reported earnings of $45,436,000 or $.63 per share for the first quarter of 1992, compared to $33,426,000 or $.46 per share for the same period last year.
 Revenue for the first quarter was $523 million, up 31 percent over the first quarter last year. Membership in U.S. Healthcare-owned HMOs grew to 1,340,000 members at March 31, 1992, a gain of 165,000 from a year ago, the largest membership increase in more than five years. In addition, during the same period, membership in employer-insured plans for which U.S. Healthcare provides comprehensive managed care services increased from 50,000 to 85,000.
 Results for 1992 and 1991 are as follows:
 U.S. HEALTHCARE, INC.
 (amounts in thousands, except per share data)
 Three months ended March 31 1992 1991
 Revenue $523,149 $400,698
 Net income $45,436 33,426
 Net income per common and common equivalent
 share - primary and fully diluted $.63 $.46
 Weighted average number of common and
 common equivalent shares outstanding -
 fully diluted 72,060 72,540
 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.
 U.S. HEALTHCARE, INC.
 Selected Financial Data
 Three months ended March 31 1992 1991
 Operating Statistics
 (As a percent)
 Medical cost ratio (medical costs
 as a percentage of premiums) 77.8 78.0
 Income from operations as a
 percentage of total revenue 14.4 13.8
 Net income as a percentage of
 total revenue 8.7 8.3
 Membership in Comprehensive Managed Care Plans
 March 31 1992 1991
 U.S. Healthcare-owned HMOs:
 Mid-Atlantic:
 Commercial 869,000 807,000
 Medicare 19,000 15,000
 Total 888,000 822,000
 Greater New York:
 Commercial 412,000 327,000
 Medicare 1,000 --
 Total 413,000 327,000
 New England - Commercial 39,000 26,000
 Total HMO members 1,340,000 1,175,000
 Employer-insured plans
 served by U.S. Healthcare 85,000 50,000
 Total membership in comprehensive
 managed care plans 1,425,000 1,225,000
 Condensed Consolidated Balance Sheets
 (Amounts in thousands)
 3/31/92 12/31/91
 (Unaudited)
 ASSETS
 Current assets:
 Cash and cash equivalents $91,771 $ 50,590
 Marketable securities 73,880 39,511
 Other current assets 96,046 84,833
 Total current assets 261,697 174,934
 Long-term marketable securities 517,127 500,539
 Other long-term assets 84,323 82,745
 Total assets $863,147 $758,218
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Medical costs payable $380,568 $336,200
 Other current liabilities 82,622 64,768
 Total current liabilities 463,190 400,968
 Long-term liabilities 12,141 10,356
 Total liabilities 475,331 411,324
 Shareholders' equity 387,816 346,894
 Total liabilities and
 shareholders' equity $863,147 $758,218
 Consolidated Statements Of Income
 (Unaudited, amounts in thousands except per share data)
 Three months ended March 31 1992 1991
 Revenue:
 Premiums $505,827 $389,779
 Investment income 12,439 9,730
 Other, principally administrative
 services fees 4,883 1,189
 Total 523,149 400,698
 Expenses:
 Medical costs 393,324 304,030
 Administrative, marketing and other
 operating costs 54,727 41,315
 Total 448,051 345,345
 Income before income taxes 75,098 55,353
 Income taxes 29,662 21,927
 Net income $ 45,436 $ 33,426
 Net income per common and common equivalent
 share - primary and fully diluted $.63 $.46
 Weighted average number of common and common
 equivalent shares outstanding
 - fully diluted 72,060 72,540
 -0- 4/27/92
 /CONTACT: Costas C. Nicolaides, executive vice president & chief financial officer of U.S. Healthcare, 215-283-6843/
 (USHC) CO: U.S. Healthcare, Inc. ST: Pennsylvania IN: HEA SU: ERN


TS -- NY016 -- 2884 04/27/92 06:13 EDT
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Date:Apr 27, 1992
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