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PEER REVIEW ANALYSIS, INC. AND CORE MANAGEMENT, INC. ANNOUNCE AGREEMENT CONCERNING PROPOSED MERGER

 BOSTON, Jan. 10 /PRNewswire/ -- Peer Review Analysis, Inc. (NASDAQ-NMS: PRAI)(PRA) and Core Management, Inc., a privately-held California-based company engaged in the business of disability, medical and behavioral health management and analytic services, today jointly announced they had entered into an Agreement and Plan of Reorganization providing for the merger of Core Management, Inc. with a wholly-owned subsidiary of PRA. Pursuant to the proposed Merger, approximately 2.1 million shares of PRA common stock will be issued to the stockholders of Core (excluding approximately 273,000 shares of PRA common stock issuable upon conversion of existing options for Core stock).
 The closing of the transaction is subject to certain conditions including approval of the transaction by stockholders of both PRA and Core. Meetings of shareholders of each company to consider approval of the proposed transaction have not yet been scheduled.
 A Registration Statement on Form S-4 relating to the securities to be issued to Core stockholders in connection with the transaction has been filed by PRA with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Core Management, Inc. provides management of disability for voluntary and workers compensation plans with its WorkAbility(R) program.
 Peer Review Analysis, Inc. is a national provider of physician-intensive, specialty matched health care utilization management programs.
 -0- 1/10/94
 /CONTACT: Alfred B. Lewis, chairman, president and chief executive officer of Peer Review Analysis, 617-375-7700; or George C. Carpenter IV, chief executive officer of Core Management, 800-258-CORE/
 (PRAI)


CO: Peer Review Analysis, Inc.; Core Management, Inc. ST: Massachusetts, California IN: HEA SU: TNM OFR

DJ-CM -- NE018 -- 0747 01/10/94 17:42 EST
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Publication:PR Newswire
Date:Jan 10, 1994
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