This bears repeating IMHO
Below, a story published in May about Pamc's second private placement this year. Note that UICI was the lead in the first one this year. Recently, they bought HPS, which also owns Pamc equity. What really amazes me is that these companies are literally throwing money at Pamc, yet the idiot fund managers just don't get it. A $200MM market cap, yet they've raised over $42MM in private placement money this year so far. It really goes to show you why these mutual funds can't ever beat the S&P. They are just stupid. No way this stock isn't over $100 within a year.
HealthAxis.com Completes $6.2 Million Private Equity Placement for a Total of $15 Million in 1999
THURSDAY, MAY 13, 1999 8:26 AM
- BusinessWire
EAST NORRITON, PA. (May 13) BUSINESS WIRE -May 13, 1999--
Tudor Investment Corp. and First Health Lead New Investments
HealthAxis.com, Inc., a subsidiary of Provident American Corp. (Nasdaq:PAMC) and the Internet's leading online
insurance marketer, today announced the private placement of equity securities that raised $6.2 million in capital.
The lead investors were Tudor Investment Corp., a global asset management firm, and First Health (Nasdaq:FHCC),
the nation's premier full-service national health benefits Company, as well as several other institutional investors.
The private funding announced today brings HealthAxis.com to a total of $15 million in private equity placement achieved since the start of 1999. In March, HealthAxis.com completed an $8.8 private equity placement, led by UICI (Nasdaq:UICI). Tudor Investment Corp. and First Health join UICI and the original HealthAxis.com investment group, which includes America Online, Inc. (NYSE:AOL), Health Plan Services, Inc. (NYSE:HPS), and Provident American.
Michael Ashker, President and Chief Executive Officer of HealthAxis.com, said: "The support for HealthAxis.com
from Tudor Investment Corp., one of the most respected global asset management firms, and First Health Group,
which owns the nation's largest directly contracted PPO network, as well as our other investors, is yet another vote
of confidence in the future of the online distribution of healthcare insurance."
In a separate press release today, HealthAxis.com also announced a strategic alliance making First Health the
primary independent managed care network provider to HealthAxis.com's insurance carrier partners. About
HealthAxis.com |
