Printer Friendly

PACIFICARE HEALTH SYSTEMS ANNOUNCES PUBLIC OFFERING

 PACIFICARE HEALTH SYSTEMS ANNOUNCES PUBLIC OFFERING
 CYPRESS, Calif., Sept. 25 /PRNewswire/ -- PacifiCare Health


Systems Inc. (NASDAQ: PHSYA and PHSYB) announced today that its board of directors has authorized a proposed public offering of 3 million shares of non-voting class B common stock. Of the 3 million total shares to be offered, 50 percent will be issued by the company and 50 percent will be sold by the company's majority shareholder, UniHealth America. An additional 450,000 shares, subject to the underwriters' over-allotment option, would be offered equally by the company and UniHealth America. The company's proceeds of the offering will be used to increase working capital and for general corporate purposes including new products and services, geographic expansions and increased investment in existing operations. A portion of the net proceeds may also be used for potential acquisitions. The company will receive no proceeds from the sale of shares by UniHealth America.
 Underwriters for the public offering have been selected and the company anticipates filing a registration statement with the Securities and Exchange Commission later today. The proposed sale to the public is expected to commence in late October. Any public offering will be made only by means of a prospectus.
 PacifiCare Health Systems is one of the nation's leading managed health care organizations. Primary operations include HMOs for employer groups and Medicare beneficiaries in California, Oklahoma, Oregon, Texas and Washington with more than 925,000 members. Other operations include a health and life insurance company, a behavioral health managed care organization, a utilization review services firm, and a health promotion company.
 -0- 9/25/92
 /CONTACT: David K. Erickson (investors), 714-229-2636 or Debby Iacunato (media), 714-220-3745, both of PacifiCare Health Systems/
 (PHSYA PHSYB) CO: PacifiCare Health Systems ST: California IN: HEA SU: OFR


EH -- LA008 -- 3412 09/25/92 09:02 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:Sep 25, 1992
Words:302
Previous Article:CENTURY 21 OFFERS FREE HOUSING REFERRAL DATA BASE; OFFICES ARE COLLECTION SITES FOR HURRICANE RELIEF SUPPLIES
Next Article:'INTERNATIONAL INSTITUTE ON MANAGED HEALTH CARE' TO CONVENE IN WASHINGTON SEPT. 8-10
Topics:


Related Articles
PACIFICARE HEALTH SYSTEMS ANNOUNCES PUBLIC OFFERING
PACIFICARE HEALTH SYSTEMS REDUCES SIZE OF PUBLIC OFFERING
PACIFICARE HEALTH SYSTEMS COMPLETES PUBLIC OFFERING
PACIFICARE HEALTH SYSTEMS FILES REGISTRATION STATEMENT FOR PROPOSED PUBLIC OFFERING
PACIFICARE HEALTH SYSTEMS COMPLETES PUBLIC OFFERING
PACIFICARE HEALTH SYSTEMS FILES REGISTRATION STATEMENT FOR PROPOSED PUBLIC OFFERING OF CLASS A COMMON STOCK
PACIFICARE HEALTH SYSTEMS ANNOUNCES PUBLIC OFFERING
PacifiCare Signs Second Long-Term Contract With CalPERS; CalPERS Gives PacifiCare 'Gold Star' For Quality, Flexibility and Commitment.
PacifiCare's Public Sector Health Plan Options Offer Choice and Affordability to Public Employees in California.
PacifiCare Health Systems Announces Listing on New York Stock Exchange.

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