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Biotech / Medical : Oxford Health Plan (OXHP) -- Ignore unavailable to you. Want to Upgrade?

To: Johnnie W. who wrote (804)	1/23/1998 11:10:00 AM
From: Thomas Haegin	Respond to of 2068

Johnnie, remember how high membership in Healthsource was at the time of the takeover? How many shares outstanding they had? Just to get an idea of what price in $ Equitable was paying for each member, may give an indication what to expect for OXHP. Thanks, Thomas

To: Johnnie W. who wrote (804)	1/23/1998 12:10:00 PM
From: Tony van Werkhooven	Respond to of 2068

Small correction- CIGNA bought Healthsource

To: Johnnie W. who wrote (804)	1/23/1998 12:22:00 PM
From: Tony van Werkhooven	Read Replies (2) \| Respond to of 2068

Healthsource had purchased the ASO business of Provident L&H. This resulted in a breakup of the organizational structure of the PL&A business unit ( they retained group life and the small group business). Healthsource was tightly controlled by Norm Payson (sp) . Following the merger, there was inadequate management control over the business- consequently the results. The ultimate out was the sale to CIGNA, which probably overpaid. The medical trend gravytrain appears to be over for now. Consequently, you can expect a potential acquirer to be much more carefull in its evaluation of any offer.