Printer Friendly

HEALTHSOURCE, INC. ANNOUNCES PLAN FOR NEW HMO IN ARKANSAS

 CONCORD, N.H., July 30 /PRNewswire/ -- Healthsource, Inc. (NYSE: HS), a leading operator of HMOs and managed health care services, today announced an agreement to develop a new HMO in Arkansas. Healthsource has entered into a joint venture with St. Vincent Infirmary Medical Center, a 550-bed hospital in Little Rock, Ark., to organize a new statewide HMO called Healthsource Arkansas. St. Vincent has signed a 10-year provider contract with Healthsource Arkansas as part of the agreement. The new company will be owned 70 percent by Healthsource and 30 percent by St. Vincent. Healthsource will invest $5.0 million for its interest in the company. As of Dec. 31, 1992, Arkansas had 2.7 percent HMO penetration compared with 16.1 percent HMO penetration nationally.
 Healthsource, Inc. is a geographically diversified provider of a broad range of managed health care services. Healthsource, Inc. owns HMOs operating in New Hampshire, South Carolina, Indiana and Tennessee and has minority ownership interests in and provides services to HMOs in North Carolina and Maine. Healthsource, Inc. also offers point of service plans, preferred provider organizations and utilization review managed care services, and provides managed care services to other health care payors, primarily Vermont Blue Cross. Healthsource, Inc. also owns EBPA, one of the largest third party claims administrators in New England. Effective April 1, 1993 Healthsource began providing managed care services to Liberty Mutual for the New Hampshire workers' compensation residual market. On April 13, 1993, Healthsource announced a joint venture with Chubb LifeAmerica to develop an HMO in New York City. On July 20, 1993, Healthsource announced an agreement to enter the Savannah, Ga., market in a joint venture with Candler Hospital of Savannah.
 -0- 7/30/93
 /CONTACT: Thomas Congoran, chief financial officer, or Tracey Turner, shareholder relations, both of Healthsource, 603-225-5077; Kerry Thalheim, 212-661-8030, or Kathy Brunson, 312-266-7800, both of The Financial Relations Board, Inc., for Healthsource/
 (HS)


CO: Healthsource, Inc.; St. Vincent Infirmary Medical Center ST: New Hampshire, Arkansas IN: HEA SU: PDT

DJ-CM -- NE001A -- 7728 07/30/93 12:12 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 30, 1993
Words:341
Previous Article:MPTV ANNOUNCES COMPLETION OF PRIVATE PLACEMENT
Next Article:CHEMICAL BANKING TO REDEEM DEBT
Topics:

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