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UNITED HEALTHCARE REPORTS RECORD YEAR-END RESULTS

 UNITED HEALTHCARE REPORTS RECORD YEAR-END RESULTS


1991 Net Earnings Up 121 Percent, Per-Share Earnings Up 100 Percent
 MINNEAPOLIS, Feb. 12 /PRNewswire/ -- United HealthCare Corporation (NYSE: UNH) today reported record revenues and earnings for the fourth quarter and 1991, with a 100 percent earnings per share gain for the year.
 1991 Results: Revenues for the year ended Dec. 31 were $847.1 million, a 40 percent increase over 1990. Net earnings were $74.8 million, up 121 percent over the previous year. Earnings per share for the year were $2.40, compared with $1.20 for 1990.
 Fourth Quarter: Fourth quarter revenues totalled $260.3 million, up 55 percent from fourth quarter 1990. Net earnings were $21.3 million, a 107 percent increase over the previous year. Earnings per share were $0.66, an 83 percent increase over the $0.36 per share reported in the year-ago fourth quarter.
 United HealthCare Chief Executive Officer William W. McGuire, M.D., credited companywide efficiencies and operating controls, coupled with market demand for the company's integrated care management products, for the strong performance. "We are extremely pleased with these results," he said.
 Key Performance Indicators:
 -- The company's health plan medical loss ratio (medical costs as a percent of premium revenues) decreased to 81.0 percent for the fourth quarter, down from 82.1 percent in the comparable 1990 quarter. McGuire said UHC's continued strong medical cost management was the key factor underlying the improvement.
 -- Shareholders' equity rose 154 percent for the year, to $318.7 million at Dec. 31, 1991. The total reflects 1991 earnings as well as net proceeds of $99,090,000 from the sale of 3,450,000 common shares in a public offering completed in March 1991.
 -- Enrollment in the company's owned and managed health plans rose 28 percent to 1,603,000 in January 1992, a 349,000-member increase over January 1991 enrollment of 1,254,000. This increase includes the company's January 1992 acquisition of 155,000-member Physicians Health Plan of Ohio and its new management contract with 66,000-member, Madison, Wisconsin-based PPIC.
 -- Lives served by UHC's specialty units increased to 15,568,000 in January 1992, a 69 percent increase over January 1991 specialty enrollment. McGuire said the specialty business' broadening customer base, which includes an expanding number of insurers and health plans in addition to self-insured employers, accounted for the majority of the growth.
 United HealthCare Corporation is one of the nation's leaders in health care management, serving both the providers and purchasers of health care since 1974. The company's services include HMOs, PPOs, multiple option and point of service plans, pharmaceutical cost management, managed mental health and substance abuse services, utilization management, workers compensation/casualty services, specialized provider networks, employee assistance services, Medicare and managed care programs for the aged, health care evaluation services, information systems and administrative services.
 UNITED HEALTHCARE CORPORATION
 EARNINGS REPORT
 (In thousands, except per share data)
 Three Months Ended
 12/31/91 12/31/90
 Revenues $260,275 $168,500
 Net earnings $21,294 $10,271
 Net earnings per share
 Primary $0.66 $0.36
 Fully diluted $0.66 $0.36
 Average number of common shares
 outstanding
 Primary 32,407 28,402
 Fully diluted 32,407 28,402
 Year Ended
 12/31/91 12/31/90
 Revenues $847,130 $605,464
 Net earnings $74,849 $33,929
 Net earnings per share
 Primary $2.40 $1.29
 Fully diluted $2.40 $1.20
 Average number of common shares
 outstanding
 Primary 31,161 26,244
 Fully diluted 31,161 29,525
 -0- 02/12/92
 /CONTACT: David P. Koppe, 612-939-7760, or Noreen L. Conway, 612-936-1125, both of United HealthCare/
 (UNH) CO: United HealthCare Corporation ST: Minnesota IN: INS SU: ERN


KH -- MN001 -- 9087 02/12/92 08:35 EST
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Date:Feb 12, 1992
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