First Health Home About First Health FAQs Site Index Contact First Health
News Room
First Health News Room


First Health Receives Clearance from Department of Justice to Acquire CCN

Contact:
Edward L. Wristen, President and COO
or
Joseph E. Whitters, CFO
First Health
630-737-7511

FOR IMMEDIATE RELEASE

DOWNERS GROVE, IL –August 10, 2001 - First Health Group Corp. (NASDAQ: FHCC), today announced that the U.S. Department of Justice has withdrawn its second request for information, which terminates the regulatory review process and allows First Health to proceed with its proposed acquisition of CCN Managed Care.

It is currently anticipated that the acquisition will close on August 16, 2001. As previously announced, First Health entered into a definitive agreement to acquire CCN, a national group health, workers’ compensation and auto managed care company based in San Diego, California from HCA (NYSE: HCA). The transaction, valued at $195 million, is to be paid in cash.

CCN is a non-risk managed care company offering workers’ compensation, group health and auto injury management programs that reduce total claims costs – medical, indemnity and legal – while improving health care outcomes.  Approximately 32 million people in 50 states and the District of Columbia benefit from CCN programs and services.  CCN manages more than $6 billion in health care costs annually.  CCN can be found on the internet at www.ccnusa.com.