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First Health Announces New Clients
Contact:
Edward L. Wristen, President and CEO
or
Joseph E. Whitters, CFO
First Health
630-737-7511
FOR IMMEDIATE RELEASE
DOWNERS GROVE, Illinois, January 7, 2003 – Edward L. Wristen,
President and Chief Executive Officer of First Health Group
Corp. (NASDAQ: FHCC), announced today that the Company has
entered into agreements to provide services to, among others:
Omnicare, Inc.
Watson Pharmaceuticals, Inc.
US HealthWorks
Cole National
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Tire Centers LLC
Reckitt Benckiser
Benefit & Risk Management Services
Managed Benefit Plans
Physician Care Insurance Services |
Also, Mr. Wristen noted that the Company has been successful
in selling additional services such as PPO, claims administration,
bill review, clinical management, pharmacy benefit management
and stop loss insurance to numerous existing clients, including:
Underwriters, Safety & Claims
Aurora Health Care, Inc.
The PMA Insurance Group
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Hewitt Coleman & Associates, Inc.
Union Pacific Railroad Employee Health Systems
USI |
Oregon Department of Human Services, Office of Medical
Assistance Programs
South Carolina Department of Health and Human Services
Vermont Department of Prevention, Assistance, Transition
and Health Access
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Mr. Wristen also stated, “Based upon the addition of these
new clients, the sale of additional services to existing clients
and additional new business the Company expects to announce
next month, the Company is comfortable with estimates of $860
to $870 million in revenue and $1.50 in EPS for 2003.”
First Health, the premier national health-benefits services
company, specializes in providing large payors with integrated
managed care solutions. First Health is a unique national
managed care company serving the group health, workers’ compensation
and state agency markets. Using technology to enable service
and managed care innovations, First Health sets the bar for
industry performance. For more information, visit the company
website at www.firsthealth.com.
Certain statements herein regarding anticipated financial
results for 2003 and the Company’s business prospects are
forward-looking statements that involve substantial risks
and uncertainties. In accordance with the Private Securities
Litigation Reform Act of 1995, factors that could cause the
Company’s actual results to differ materially from those expressed
or implied by such forward-looking statements include, among
others, the inability of the Company to continue to: (i) enter
into contracts with and successfully implement programs for
new clients within the time frame established by the Company
and achieve the revenue growth expected to result from the
addition of such clients, (ii) expand its group health, workers’
compensation and public sector business, (iii) control health
care benefit expenses, or (iv) successfully integrate the
recently acquired Mail Handlers Benefit Plan administrative
assets. All forward-looking statements herein are made as
of the date hereof and the Company undertakes no obligation
to update such statements.
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