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First Health Announces New Clients
Investor Contact:
Joseph E. Whitters, CFO
630-737-7511
Media Contact:
Erin Gardiner, Public Relations Manager
630-737-5016
FOR IMMEDIATE RELEASE
DOWNERS GROVE, IL, September 17, 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:
| Western Health |
Bluegrass Family
Health
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| Evergreen Healthcare Management,
L.L.C. |
CompMed Advantage |
| Greentree Administrators |
Bandag, Incorporated |
| Pinnacle Claims Management
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Santa Clara Valley Health
Plan d.b.a. Valley Health Plan |
| Onyx North America |
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Also, Mr. Wristen noted that the Company has been successful
in selling additional services such as access to The First
Health® Network, claims administration,
clinical management and pharmacy benefit management to numerous
existing clients, including:
Liberty Mutual |
Alaska Department of Health and Social Services |
| The Hartford |
Florida AHCA Office of Medicaid Program Development |
| Mutual of Omaha Insurance Company |
Nevada Division Of Health Care Financing and Policy |
| Kaiser Permanente Insurance Company |
North Carolina Division of Medical Assistance |
| NetCare Life & Health Insurance Company, Inc. |
Virginia Department of Medical Assistance |
| National Rural Electric Cooperative Association |
The Marmon Group, Inc. |
| Crawford & Company |
The Hanover Insurance Company |
Mr. Wristen noted, “Based upon these new clients, the
sale of additional services to existing clients, the recently
announced Health Net Employer Services, Inc. acquisition and
new business the Company expects to announce during the next
several months, the Company should reach at least $1 billion
of revenue in 2004.”
Business Description
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.
Forward-Looking Statements Notice
Certain statements herein regarding
anticipated financial results for 2004 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 and (iv)
achieve operation and cost synergies anticipated as a result
of the Health Net Employer Services acquisition. 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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