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UNITED HEALTHCARE SIGNS LETTER OF INTENT TO BUY OWNERSHIP IN NORTH CAROLINA HEALTH PLAN

 UNITED HEALTHCARE SIGNS LETTER OF INTENT
 TO BUY OWNERSHIP IN NORTH CAROLINA HEALTH PLAN
 MINNEAPOLIS, Aug. 5 /PRNewswire/ -- United HealthCare Corporation (NYSE: UNH) said it has signed a letter of intent to purchase 50 percent ownership of Physicians Health Plan of North Carolina. The 50,000-plus member Greensboro, N.C., health plan, which has achieved 46 percent enrollment growth during the past 12 months, currently contracts with UHC for information systems management.
 "PHP of North Carolina is an excellent health plan with professional management, outstanding board leadership and very good provider relationships. We look forward to joining their exciting, growing partnership," UHC Chairman, President, and CEO William W. McGuire, M.D., said.
 Terms of the agreement were not disclosed. A final agreement is expected in September, subject to completion of due diligence and receipt of regulatory approval.
 United HealthCare Corporation is a national leader in health care management, serving purchasers, users, managers and providers of health care since 1974. The company offers a broad range of products through 19 locally based health plans and nine non-geographically bounded specialty care management companies. The company's services include: HMOs; PPOs; health plan management; pharmaceutical cost management; managed mental health and substance abuse services; utilization management; workers compensation/casualty services; specialized provider networks; employee assistance services; Medicare and managed care programs for the aged; health care evaluation services; information systems; and administrative services.
 -0- 8/5/92
 /CONTACT: David P. Koppe, 612-939-7760, or Noreen L. Conway, 612-936-1125, both of United HealthCare/
 (UNH) CO: United HealthCare Corporation; Physicians Health Plan ST: Minnesota, North Carolina IN: MTC INS SU: TNM


MA -- MN002 -- 6930 08/05/92 08:30 EDT
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Publication:PR Newswire
Date:Aug 5, 1992
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