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HEALTH NET, QUALMED CONTINUE MERGER STEPS

 WOODLAND HILLS, Calif. and PUEBLO, Colo., Aug. 30 /PRNewswire/ -- HN Management Holdings Inc., parent of California's second largest health maintenance organization (HMO), Health Net, and QualMed, Inc. announced that, in conjunction with their merger agreement announced earlier today, the companies took several steps to facilitate completion of the transaction.
 Stockholders representing more than 90 percent of the outstanding shares of HNMH Class A Common Stock, as well as The California Wellness Foundation, the sole holder of HNMH's Class B Common Stock subject to certain conditions, have agreed to vote in favor of the merger as have holders representing approximately 34 percent of the outstanding shares of QualMed's common stock. In addition, QualMed has adopted a stockholders rights plan.
 -0- 8/30/93
 /CONTACT: Don Prial of Health Net, 818-593-7304; or George Evans of QualMed, 719-585-8074/


CO: Health Net; HN Management Holdings Inc.; QualMed Inc. ST: California, Colorado IN: HEA SU: TNM

MF-LM -- LA010 -- 7297 08/31/93 01:00 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
Words:160
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