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QUALMED POSTPONES SPECIAL MEETING OF STOCKHOLDERS

 PUEBLO, Colo., Jan. 3 /PRNewswire/ -- QualMed Inc. (NYSE: MQ) announced today that its special meeting of stockholders scheduled for Jan. 7, 1994 has been postponed. QualMed currently anticipates that the special meeting will be held no later than March 31, 1994.
 QualMed stated that it determined to postpone the special meeting following the jury verdict against Health Net announced last week in Riverside, Calif. Superior Court by the jury in the Nelene Fox case. HN Management Holdings Inc. ("HNMH"), the parent corporation of Health Net, has informed QualMed that the verdict totals approximately $12 million in actual damages and $77 million in punitive damages. QualMed has been advised by Health Net that Health Net will be filing certain motions relating to the Fox case which are anticipated to be heard by the Riverside Superior Court in February.
 QualMed stated that a special committee of its board of directors, comprised of certain outside directors, has been created to review and assess information with respect to the Fox case and to report its findings to QualMed's full board.
 As previously announced, QualMed has signed a definitive merger agreement with HNMH.
 QualMed Inc., headquartered in Pueblo, provides healthcare products and services to approximately 367,000 members in California, Colorado, Idaho, New Mexico, Oregon and Washington. Through its subsidiary, Preferred Health Network Inc., the company also provides access to preferred provider networks in 16 states for more than 2.4 million covered persons. The company's common stock presently trades on the NYSE under the symbol "MQ".
 -0- 1/3/94 R
 /CONTACT: George Evans, director, Investor Relations, 719-542-0500/
 (MQ)


CO: QualMed Inc. ST: Colorado IN: HEA SU:

OP -- LA015R -- 8788 01/04/94 09:04 EST
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Publication:PR Newswire
Date:Jan 4, 1994
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