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Biotech / Medical : Oxford Health Plan (OXHP)
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To: Thomas Haegin who wrote (823)1/26/1998 5:30:00 PM
From: Tony van Werkhooven  Read Replies (1) of 2068
 
Thomas, I spoke with Al Ciavardelli at CIGNA Investor Relations. I received the following information:
1. Announcement date- 2/97
2. Closing date - end of 6/97
3. Price- $1.4 Billion plus $250 Million debt assumption
4. Purchase included closing GAAP equity of approx. $400 Million.
5. Closing balance sheet $150 Million of good will
6. Membership- HMO 1.1 Million
Indemnity 2.0 Million
7. ASO business- approx. 90% of the indemnity lives are ASO lives

The following based on my recollection:
1. HMO lives would tend to be the original Healthsource HMO lives (i.e. before purchase of Provident L&A business) This business tended to be smaller HMO's, smaller towns, more northeast oriented.
2. The indemnity lives would have been acquired from Provident L&A. Tended to be from large groups, generally located in the south/south-east, and as noted above was essentially all ASO business.

Tony
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