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U.S. HEALTHCARE ANNOUNCES AGREEMENT TO DISTRIBUTE U.S. BIOSCIENCE SHARES

U.S. HEALTHCARE ANNOUNCES AGREEMENT TO DISTRIBUTE U.S. BIOSCIENCE SHARES
 BLUE BELL, Pa., April 7 /PRNewswire/ -- U.S. Healthcare, Inc. (NASDAQ: USHC), one of the nation's leading providers of managed health care services, today announced that it has entered into an agreement with U.S. Bioscience, Inc. (AMEX: UBS), Marion Merrell Dow Inc. (NYSE: MKC) and other parties whereby U.S. Bioscience and Marion Merrell Dow have consented to the distribution to U.S. Healthcare's shareholders of approximately 6,700,000 shares of common stock of U.S. Bioscience presently held by U.S. Healthcare. It is anticipated that the distribution will take place before Aug. 4, 1992.
 U.S. Healthcare provides managed health care services through its HMOs in Pennsylvania, New Jersey, New York, Delaware, Connecticut, Massachusetts, New Hampshire and Maryland. The company also provides a variety of managed health care services to self-insured and other employers.
 -0- 4/7/92
 /CONTACT: Costas C. Nicolaides, executive vice president and chief financial officer of U.S. Healthcare, 215-283-6843/
 (USHC UBS MKC) CO: U.S. Healthcare, Inc.; U.S. Bioscience, Inc.;
 Marion Merrell Dow Inc. ST: Pennsylvania IN: HEA SU:


AH-GK -- NY038 -- 5877 04/07/92 13:32 EDT
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Publication:PR Newswire
Date:Apr 7, 1992
Words:199
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