In yesterday's press release announcing the UICI & HPS merger, they gave a lot of coverage to the fact that they own 10% of HealthAxis.com.
Why do you think a company that is announcing a merger with another company would bother to mention the fact that they own a minority stake in another company that is not part of the merger deal being announced in the press release?
Don't you think that this indicates that they will be promoting their HealthAxis.com connection on a widespread basis?
Whay else would they put this "unrelated" statement in a press release to announce a merger:
>>UICI believes it will be well-positioned to participate in the healthcare transaction, technology, insurance and network-provider marketplace through its ownership in HPS, Insurdata and other subsidiaries and business units at UICI and its investment interest in HealthAxis.com, Inc. The acquisition of HPS further enhances the strategy of participating end-to-end in the healthcare transaction and information industry and creates strong synergies among UICI's various operating units and companies. There are also major advantages created through utilizing HPS's managed care platform (NPPN) throughout the combined company and across a much broader reach of customers and claims.
After the merger, UICI will own approximately 10 percent of HealthAxis.com, Inc., which is 72 percent owned by Provident American Corporation (Nasdaq: PAMC - news). HealthAxis.com is the Internet's leading fully transactional health insurance Website and a fully transactional, digital insurance agent. Through its interactive, user-friendly, one stop healthcare insurance Website, healthaxis.com, HealthAxis.com provides customers with access to and the ability to purchase a full range of flexible insurance products and services. HealthAxis.com also provides product and health information, instant price quotes, electronic application processing, online billing and claims status, policy and personal information changes and a customer hotline.<< |
