Printer Friendly

U.S. HEALTHCARE RECEIVES $3 MILLION FROM BLUE CROSS AND BLUE SHIELD OF MISSOURI IN SETTLEMENT OF LAWSUIT

 U.S. HEALTHCARE RECEIVES $3 MILLION FROM BLUE CROSS AND
 BLUE SHIELD OF MISSOURI IN SETTLEMENT OF LAWSUIT
 BLUE BELL, Pa., Jan. 7 /PRNewswire/ -- U.S. Healthcare Inc. (NASDAQ: USHC), one of the nation's leading providers of managed health care services, today announced it has received $3 million from Blue Cross and Blue Shield of Missouri in settlement of litigation between the two entities.
 The dispute began when Blue Cross and Blue Shield of Missouri filed a lawsuit in 1991 alleging that U.S. Healthcare had breached an agreement under which U.S. Healthcare developed an HMO in St. Louis on behalf of Blue Cross. U.S. Healthcare denied any breach of the agreement and asserted several counterclaims against Blue Cross.
 A U.S. Healthcare spokesman said the company was very pleased with the $3 million settlement paid by Blue Cross. He further noted that the financial terms of the settlement also provide for potential additional payments by Blue Cross based upon future gross premium revenue of the St. Louis HMO over the next 10 years.
 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.
 /delval/
 -0- 1/7/92
 /CONTACT: Costas C. Nicolaides, executive vp and chief financial officer of U.S. Healthcare, 215-283-6843/
 (USHC) CO: U.S. Healthcare, Inc.; Blue Cross and Blue Shield of Missouri ST: Pennsylvania, Missouri IN: INS SU:


LJ-SF -- PH007 -- 7206 01/07/92 09:34 EST
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:Jan 7, 1992
Words:264
Previous Article:HILLHAVEN ANNOUNCES 1992 SECOND-QUARTER RESULTS, EXECUTIVE APPOINTMENT; DIVISIONAL CONSOLIDATION
Next Article:MEI DIVERSIFIED DISCONTINUES STOCK REPURCHASE PROGRAM
Topics:


Related Articles
UNITED HEALTHCARE'S PRESCRIPTION DRUG MANAGEMENT COMPANY ADDS TWO BLUE CROSS AND BLUE SHIELD PLANS TO CLIENT LIST
BLUE CROSS AND BLUE SHIELD OF MINNESOTA SETTLES COINSURANCE DISPUTE
BLUE CROSS AND BLUE SHIELD OF NEW JERSEY AND BLUE CROSS BLUE SHIELD OF DELAWARE ANNOUNCE CONSOLIDATION
BLUE CROSS & BLUE SHIELD OF OHIO FILES REVISED ACTION AGAINST BLUE CROSS AND BLUE SHIELD ASSOCIATION
Stuart Campbell Named President and CEO of Blue Cross Blue Shield of Missouri and Wisconsin.
Blue Cross Announces Settlement on Class Action Suit Over Tobacco Proceeds Money.
Blue Cross Receives Court Approval on Class Action Suit Over Tobacco Proceeds Money.
Blue Cross Marks 10-Year Anniversary of Victory Over Tobacco Industry.

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