Printer Friendly

HEALTH ONE, LIFESPAN ANNOUNCE SETTLEMENT

 HEALTH ONE, LIFESPAN ANNOUNCE SETTLEMENT
 MINNEAPOLIS, Aug. 17 /PRNewswire/ -- Officials at Health One and


LifeSpan announced today that they have settled their lawsuit with the Minnesota state attorney general and can now proceed with their planned merger.
 The settlement resulted from mediation efforts requested by Judge Donald Alsop of the U.S. District Court and conducted by former Minnesota Supreme Court Chief Justice Robert Sheran. The settlement authorizes the merger of Health One and LifeSpan to proceed immediately. However, the settlement also requires that the merger by reviewed under MinnesotaCare guidelines, resulting from a bill recently passes by the Minnesota state legislature. Those guidelines have yet to be developed. Review of the merger under this legislation is likely to occur in the next 18 to 24 months.
 "We are delighted that mediation efforts have brought these results," said Don Wegmiller, president and chief executive officer of Health One. "This action avoids a costly and time-consuming court trial that would delay bringing the benefits of the merger to health care consumers."
 Gordon Sprenger, president and chief executive officer of LifeSpan, said, "We have absolutely no doubt that the merger of LifeSpan and Health One will benefit consumers, payers, employers and physicians. Since the announcement of our intent to merge, we've had strong support from all those groups. We're now able to do what we've been promising."
 Conley Brooks, chairman of the LifeSpan board of directors, said, "Even though the MinnesotaCare guidelines have yet to be established, we're confident that we'll meet its tests. We'll be measured on costs, quality and access. Those factors have always been key benefits of the merger."
 Stanley Cowle, chairman of the Health One board of directors, stated, "We're appreciative of the attorney general's efforts in reaching an accord on this matter and we're looking forward to working with the commissioner of health to review this merger when the Department of Health has the guidelines in place. We applaud the commissioner's involvement in the process."
 Neither Brooks nor Cowle could provide a specific date on which the merger would be effective, but indicated that preliminary work will begin immediately and that Health One and LifeSpan should be able to move forward as a newly merged organization sometime early this fall.
 -0- 8/17/92
 /CONTACT: David Peters of Health One, 612-574-7841; or Jean Price of LifeSpan, 612-863-5611/ CO: LifeSpan; Health One ST: Minnesota IN: INS SU: TNM


KH -- MN003 -- 0546 08/17/92 13:15 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 17, 1992
Words:409
Previous Article:PERCEPTRONICS RETAINS SEIDLER AMDEC SECURITIES AS FINANCIAL ADVISOR
Next Article:CSXT REACHES CONDUCTOR-ONLY AGREEMENT ON RF&P PORTION OF SYSTEM


Related Articles
HEALTH ONE AND LIFESPAN ANNOUNCE INTENT TO CONSOLIDATE
NEW LIFESPAN/HEALTH ONE COMPANY ANNOUNCES TOP BOARD AND EXECUTIVE MANAGEMENT APPOINTMENTS
PFIZER BECOMES SUBSCRIBER TO GPCR LACALIZATION DATABASE.
LIFESPAN DATABASE HELPS IN DRUG DISCOVERY EFFORTS.
Denise Robertson column.
LifeSpan Re-Introduces Most Compact Treadmill Available on the Market and Wins Award (Again!).
Lifespan Selects Vericept to Secure Data and Protected Health Information.
LifeSpan International Inc. Enters Into Agreement With Optigenex Inc. to Market and Distribute Proprietary Skin Care Products and Supplements.
Winners last longer says new research.
Structural Health Monitoring Technology, Available Now, Will Help Resolve Structurally Deficient Bridge Crisis.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters