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PACIFICARE HEALTH SYSTEMS ANNOUNCES INTENT TO ACQUIRE FLORIDA HMO

 CYPRESS, Calif., Oct. 11 /PRNewswire/ -- PacifiCare Health Systems, Inc. (NASDAQ: PHSYA and PHSYB) announced today that it has signed a letter of intent to acquire Advantage Health Plans Inc., a Miami-based HMO with approximately 29,000 members. The transaction is subject to, among other things, various regulatory approvals, completion of due diligence, negotiation and finalization of definitive documents, and board of director approval. A filing with the State of Florida Department of Insurance to initiate the acquisition approval process was made on Oct. 6. Terms of the transaction have not been disclosed.
 "The addition of Advantage Health Plans will strengthen our national presence and allow us to provide high-quality managed health care services to the Florida marketplace," said Alan Hoops, president and chief executive officer of PacifiCare Health Systems. "Working with Advantage Health Plans' management and staff, we look forward to bringing our capabilities to that market."
 Advantage Health Plans (formerly Lourdes Health Services) operates in the Florida counties of Broward, Dade, Glades, Hendry, Lee and Palm Beach. Of the approximately 29,000 total members, roughly half are Medicaid-eligible members.
 PacifiCare Health Systems is one of the nation's leading managed care organizations. Primary operations include managed health care products for employer groups and Medicare beneficiaries in California, Oklahoma, Oregon, Texas and Washington serving more than 1 million members. Other specialty managed care operations include Medicare risk management services, pharmacy benefit management, military health care management, coordination of managed care products for multiregion employers, health and life insurance, behavioral health, workers' compensation and health promotion.
 -0- 10/11/93
 /CONTACT: David K. Erickson, Investor Relations, 714-229-2636, or Ben Singer, Media Relations, 714-229-2825/
 (PHSYA PHSYB)


CO: PacifiCare Health Systems Inc. ST: California IN: HEA SU:

EH-JB -- LA011 -- 0619 10/11/93 10:49 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
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