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THE ADMAR GROUP INC. ANNOUNCES IT HAS ENTERED INTO AN AGREEMENT TO SELL COMMON STOCK AND ISSUE WARRANTS TO HUMANA INC.

THE ADMAR GROUP INC. ANNOUNCES IT HAS ENTERED INTO AN AGREEMENT TO
 SELL COMMON STOCK AND ISSUE WARRANTS TO HUMANA INC.
 SANTA ANA, Calif., Dec. 10 /PRNewswire/ -- The Admar Group Inc. (NASDAQ: ADMR), based in Santa Ana, announced that it has entered into an agreement to sell up to 20 percent of its common stock to Humana Inc. (NYSE: HUM) of Louisville, Ky. If all warrants are exercised, Admar will receive a minimum of $5,000,000. The sale will be made on a phased basis beginning with the sale of 200,000 shares for $500,000. The remainder of the investment will be in the form of an issuance to Humana of warrants to acquire, in the aggregate, up to an additional 1,800,000 shares of Admar's common stock exercisable for up to five years at various prices based on the market price of the Admar common stock, but in any event not lower than $2.50 per share.
 The Admar Group Inc. develops, markets and administers managed health care services which facilitate the delivery and manage the cost of providing health care through contract insurance carriers and self-insured employer groups. Admar's services are marketed as an adjunct to employee health care benefit plans. Programs include alternate delivery systems comprised of group medical plans; Preferred Provider Organizations and Exclusive Provider Organizations; the HealthWatch Medical Review System, designed to ensure appropriate use of hospitalization for medical/surgical, substance abuse, mental health, catastrophic illness and injuries; HealthWatch Advantage, a hospital and surgical negotiation program; and Advantage Benefits Company, a third party administrator providing services to self-insured employers.
 Humana is an integrated healthcare company, operating 80 hospitals and offering a variety of health benefit plans for employee groups and medicare beneficiaries, covering 1.7 million persons. It also makes venture capital investments in companies producing healthcare services and products.
 -0- 12/10/91
 /CONTACT: Edward K. Evans, VP finance, or Richard H. Toral, CEO and chairman of The Admar Group Inc., 714-953-9600/
 (ADMR HUM) CO: The Admar Group Inc.; Humana Inc. ST: California IN: HEA SU:


SE-EH -- LA009 -- 0879 12/10/91 09:30 EST
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Publication:PR Newswire
Date:Dec 10, 1991
Words:354
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