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U.S. HEALTHCARE REPORTS RESULTS FOR THE FIRST QUARTER

 BLUE BELL, Pa., April 26 /PRNewswire/ -- U.S. Healthcare, Inc. (NASDAQ-NMS: USHC), one of the nation's leading providers of managed health care services, today reported earnings of $63.0 million or $.58 per share for the first quarter of 1993 compared to $45.4 million or $.42 per share for the same period last year. Revenue for the first quarter was $640.7 million, up 22 percent over the first quarter last year.
 Results for 1993 and 1992 are as follows (amounts in thousands, except per share data):
 Three months ended
 March 31
 1993 1992
 Revenue $640,706 $523,149
 Net income $63,021 $45,436
 Net income per common and common equivalent
 share - primary and fully diluted $.58 $.42
 Weighted average number of common and common
 equivalent shares outstanding - fully diluted 108,426 108,090
 Membership in U.S. Healthcare-owned HMOs grew to 1,507,000 members at March 31, 1993, a gain of 167,000 members from a year ago. On Jan. 1, 1993, 17,000 members transferred from U.S. Healthcare-insured HMOs to employer-funded HMOs, a new product introduced by U.S. Healthcare effective as of that date. The new product provides coverage similar to U.S. Healthcare-insured HMOs but the employer assumes substantially all risk for medical costs. A summary of the membership in the company's comprehensive managed care plans is as follows:
 March 31
 1993 1992 Dec. 31, 1992
 U.S. Healthcare-insured HMO
 members 1,490,000 1,340,000 1,405,000
 Employer-funded HMO members 17,000 -- --
 Total HMO members 1,507,000 1,340,000 1,405,000
 Other employer-funded plans
 administered by U.S. Healthcare 112,000 85,000 91,000
 Total membership in comprehensive
 managed care plans 1,619,000 1,425,000 1,496,000
 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 other managed health care services, including workers compensation managed care, to self-insured and other employers. In addition, the company offers quality assessment and improvement programs, patient surveys and outcome tracking, and data analysis systems for providers and purchasers of health care.
 To receive a copy of this release, telephone U.S. Healthcare at (215) 283-6700.
 U.S. HEALTHCARE, INC.
 SELECTED FINANCIAL DATA
 Three months ended
 March 31
 1993 1992
 OPERATING STATISTICS
 Medical cost ratio (medical costs as a percentage
 of premiums) (in percent) 75.6 77.8
 Income before income taxes as a percentage of
 total revenue (in percent) 16.3 14.4
 Net income as a percentage of total revenue 9.8 8.7
 MEMBERSHIP IN COMPREHENSIVE MANAGED CARE PLANS
 March 31
 1993 1992 Dec. 31, 1992
 U.S. Healthcare-insured HMO members:
 Mid-Atlantic:
 Commercial 903,000 869,000 889,000
 Medicare 21,000 19,000 21,000
 Total 924,000 888,000 910,000
 Greater New York:
 Commercial 508,000 412,000 447,000
 Medicare 2,000 1,000 2,000
 Medicaid 6,000 -- 3,000
 Total 516,000 413,000 452,000
 New England - Commercial 50,000 39,000 43,000
 U.S. Healthcare-insured
 HMO members 1,490,000 1,340,000 1,405,000
 Employer-funded HMO members:
 Mid-Atlantic 16,000 -- --
 Greater New York 1,000 -- --
 Employer-funded HMO members 17,000 -- --
 Total HMO members 1,507,000 1,340,000 1,405,000
 Other employer-funded plans
 administered by U.S. Healthcare 112,000 85,000 91,000
 Total membership in comprehensive
 managed care plans 1,619,000 1,425,000 1,496,000
 U.S. HEALTHCARE, INC.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (Amounts in thousands)
 March 31, 1993 Dec. 31, 1992
 (unaudited)
 ASSETS
 Current assets:
 Cash and cash equivalents $ 87,239 $131,566
 Marketable securities 11,049 47,024
 Other current assets 122,886 98,823
 Total current assets 221,174 277,413
 Long-term marketable securities 738,997 590,453
 Other long-term assets 129,995 113,228
 Total assets $1,090,166 $981,094
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities:
 Medical costs payable $ 413,356 $383,247
 Other current liabilities 108,528 79,537
 Total current liabilities 521,884 462,784
 Long-term liabilities 11,807 13,220
 Total liabilities 533,691 476,004
 Shareholders' equity 556,475 505,090
 Total liabilities and
 shareholders' equity $1,090,166 $981,094
 U.S. HEALTHCARE, INC.
 CONSOLIDATED STATEMENTS OF INCOME
 (Amounts in thousands, except per share data)
 Three months ended
 March 31
 1993 1992
 (unaudited)
 Revenue:
 Premiums $621,708 $505,827
 Investment income, including realized gains 14,248 12,439
 Other, principally administrative services fees 4,750 4,883
 640,706 523,149
 Expenses:
 Medical costs 470,226 393,324
 Administrative, marketing and
 other operating costs 66,314 54,727
 536,540 448,051
 Income before income taxes 104,166 75,098
 Income taxes 41,145 29,662
 Net income $ 63,021 $ 45,436
 Net income per common and common equivalent
 share - primary and fully diluted $.58 $.42
 Weighted average number of common and common
 equivalent shares outstanding - fully diluted 108,426 108,090
 -0- 4/26/93
 /CONTACT: C. Costas, executive vice president and chief financial officer of U.S. Healthcare, 215-283-6843/
 (USHC)


CO: U.S. Healthcare, Inc. ST: Pennsylvania IN: HEA SU: ERN

PS -- NY015 -- 0416 04/26/93 07:22 EDT
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Date:Apr 26, 1993
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