Printer Friendly

HEALTHSOURCE SIGNS DEFINITIVE AGREEMENT TO ACQUIRE MAINE HMO

 HEALTHSOURCE SIGNS DEFINITIVE AGREEMENT TO ACQUIRE MAINE HMO
 CONCORD, N.H., Aug. 20 /PRNewswire/ -- Healthsource, Inc., (NASDAQ: HLTH), a leading operator of health maintenance organizations (HMOs) and managed health care services, announced today that is affiliate in Maine, Healthsource Maine, Inc., has signed a definitive agreement to acquire the HMO subsidiary of TakeCare, Inc. (NASDAQ: TKCR) in Maine called Lincoln National Health Plan which 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. will purchase certain assets of TakeCare's Maine subsidiary including its membership and assume certain liabilities for a price of $700,000 over net book value subject to certain post-closing adjustments. TakeCare's Maine HMO plan has approximately 9,300 members and reported revenues of approximately $12 million in 1991. Closure of the transaction is contingent upon regulatory approval in Maine and certain other conditions.
 Norman C. Payson, M.D., chief executive officer of Healthsource said, "This acquisition will accelerate our expansion into the central Maine area of Bangor, Waterville and Skowhegan and will be a complement to our strong presence in southern Maine and New Hampshire." The addition of TakeCare's HMO plan will increase Healthsource membership in Maine to approximately 40,000, including about 6,000 self-insured members.
 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- 8/20/92
 /CONTACT: Thomas Congoran, CFO, or Tracey Turner, Shareholder Relations, 603-225-5077, of Healthsource; or Kerry Thalheim, 212-661-8030, or Kathy Waller, 312-266-7800, both of The Financial Relations Board, for Healthsource/
 (HLTH TKCR) CO: Healthsource, Inc.; TakeCare, Inc. ST: New Hampshire, Maine IN: HEA SU: TNM


DH -- NE014 -- 1822 08/20/92 15:43 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 20, 1992
Words:326
Previous Article:LIGHTS, CAMERA, ACTION: EXPRESS TRAFFIC ON TELEVISION
Next Article:MCDONNELL DOUGLAS ATTENDS 1992 FARNBOROUGH INTERNATIONAL AIR SHOW
Topics:


Related Articles
HEALTHSOURCE CLOSES PURCHASE OF TENNESSEE FIRST HEALTH PLAN, INC.
HEALTHSOURCE SIGNS LETTER OF INTENT TO PURCHASE INDIANA HMO
HEALTHSOURCE SIGNS LETTER OF INTENT TO PURCHASE MARYLAND HMO
HEALTHSOURCE SIGNS LETTER OF INTENT TO PURCHASE MARYLAND HMO
HEALTHSOURCE SIGNS LETTER OF INTENT TO ACQUIRE MAINE HMO
HEALTHSOURCE AFFILIATE CLOSES PURCHASE OF MAINE HMO
HEALTHSOURCE ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT TO ACQUIRE REMAINING INTEREST IN SOUTH CAROLINA PLAN
HEALTHSOURCE ANNOUNCES INTENT TO ACQUIRE REMAINING INTEREST IN HEALTHSOURCE MAINE, INC.
HEALTHSOURCE, INC. ANNOUNCES CLOSING OF MERGER WITH MAINE AFFILIATE
HEALTHSOURCE, INC. ENTERS INTO EXCLUSIVE NEGOTIATIONS TO ACQUIRE HEALTH NEW ENGLAND

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