HEALTHSOURCE AFFILIATE CLOSES PURCHASE OF MAINE HMO
HEALTHSOURCE AFFILIATE CLOSES PURCHASE OF MAINE HMO CONCORD, N.H., Oct. 8 /PRNewswire/ -- Healthsource, Inc.
(NASDAQ: HLTH), a leading operator of health maintenance organizations (HMOs) and managed health care services, announced today that its affiliate in Maine, Healthsource Maine, Inc., has received regulatory approvals and closed (effective Oct. 1, 1992) its previously announced agreement to acquire certain assets of the HMO subsidiary of TakeCare, Inc. (NASDAQ: TKCR) in Maine. The Plan was acquired by TakeCare as part of its purchase of Lincoln National Corporation's managed health care business.
Under the terms of the agreement, Healthsource Maine, Inc. purchased selected assets of TakeCare's Maine subsidiary including its membership and assumed certain liabilities for a price of $700,000 over net book value at closing. TakeCare's Maine HMO plan had more than 7,000 members and reported revenues of approximately $12 million in 1991. Healthsource, Inc. sponsors or manages HMOs in New Hampshire, Maine, South Carolina, North Carolina, Tennessee, Indiana and New York and owns EBPA, the largest third-party claims administrator in New England. Healthsource also provides utilization review services and preferred provider networks primarily to self-insured employer plans and Blue Cross and Blue Shield of Vermont. -0- 10/8/92 /CONTACT: Thomas Congoran, Healthsource chief financial officer, or Tracey Turner, shareholder relations, 603-225-5077/ (HLTH TKCR) CO: Healthsource, Inc. ST: New Hampshire, Maine IN: HEA SU: TNM
CN -- NE013 -- 7949 10/08/92 14:25 EDT
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|Date:||Oct 8, 1992|
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