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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JUNE 11, 1998
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UNITED HEALTHCARE CORPORATION
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(Exact name of registrant as specified in its charter)
MINNESOTA 0-10864 41-1321939
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
300 OPUS CENTER
9900 BREN ROAD EAST
MINNETONKA, MN 55343
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 936-1300
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N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 11, 1998, United HealthCare Services, Inc., a subsidiary of United
HealthCare Corporation ("United HealthCare") and HealthPartners of Arizona, Inc.
("HealthPartners") issued a press release announcing that United HealthCare and
HealthPartners have reached a definitive agreement under which United HealthCare
will acquire HealthPartners.
The preceding is qualified in its entirety by reference to the press
release, which is attached hereto as an Exhibit and incorporated by reference
herein.
Item 7. Exhibits.
99 Text of Press Release, dated June 11, 1998, issued by United HealthCare and
HealthPartners.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
UNITED HEALTHCARE CORPORATION
By /s/ David J. Lubben
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David J. Lubben
General Counsel and
Secretary
Date: June 12, 1998
2
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EXHIBIT INDEX
Exhibit Number Description
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99 Text of Press Release, dated June 11, 1998, issued by United
HealthCare and HealthPartners.
3
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[LETTERHEAD]
CONTACT:
UNITED HEALTHCARE HEALTHPARTNERS OF
Susan Busch ARIZONA
Director, Media & Public Relations Steve Feinberg
(612) 936-1932 (602) 664-2625
UNITED HEALTHCARE TMC HEALTHCARE
Phil Soucheray Jack Jewett
Manager, Media & Public Relations (520) 324-2149
(612) 936-7301
SAMARITAN HEALTH SYSTEM
Dan Green
(602) 495-4702
ARIZONA PHYSICIANS IPA
Jack Nock
(602) 664-5200
(FOR IMMEDIATE RELEASE)
UNITED HEALTHCARE SIGNS DEFINITIVE AGREEMENT TO PURCHASE
HEALTHPARTNERS OF ARIZONA
MINNEAPOLIS, Minn., PHOENIX, Az., and TUCSON, Az. (June 11, 1998) -- United
HealthCare Services, Inc., a subsidiary of United HealthCare Corporation
(NYSE:UNH) and HealthPartners of Arizona, Inc. (HPA) announced that they have
reached a definitive agreement under which United HealthCare Services, Inc. will
acquire HPA. The sale is subject to regulatory approvals and is expected to
close this fall. Terms of the cash transaction were not disclosed at this time.
The sale includes the following HPA subsidiaries: HealthPartners Health
Plans, Inc.; Arizona Physicians IPA, Inc., an Arizona Health Care Cost
Containment System (AHCCCS) Health Plan; HealthPartners Administrators, Inc.;
and HealthPartners Insurance Company.
(more)
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Page 2 of 3
In 1995, Southern Arizona Independent Physicians, Inc. and the wholly-owned
managed care subsidiaries of Samaritan Health System and TMC HealthCare merged
to create HPA, a holding company owned by TMC HealthCare, Samaritan Health
System and the Southern Arizona Independent Physicians Trust. HPA is not
affiliated in any way with HealthPartners, Inc., a Minnesota-based managed care
organization.
HealthPartners of Arizona has been the fastest growing managed care company
in Arizona. The combination of HealthPartners Health Plans and Arizona
Physicians IPA, together with United HealthCare's existing Arizona plan, will
serve more than 680,000 Arizonans in Phoenix, Tucson, and throughout the state.
"United HealthCare is committed to building on the success of
HealthPartners and Arizona Physicians IPA in serving the needs of their local
markets," said Jeannine Rivet, chief executive officer, United HealthCare Health
Plans. "We have the resources to sustain the plan's rapid growth and invest in
improved systems and infrastructure, as well as the capabilities and services to
deliver added value to members, providers and customers. Our intent is to work
closely with the two hospital sellers going forward."
United HealthCare and HealthPartners Health Plans offer complementary
products and services that emphasize choice, access and value for consumers.
For example, United HealthCare helped pioneer open access health plans that
allow members to see physicians and specialists without a referral and will have
nearly 4 million members enrolled in open access plans by year-end.
HealthPartners Health Plans was the first health plan to offer a form of open
access product in Arizona.
HealthPartners of Arizona owners cited the strong strategic and qualitative
fit between the companies. "We considered factors including commitment to
quality, continuity of HealthPartners' provider networks, local management,
community involvement, competitive pricing, innovative products and customer
service before selecting United HealthCare," said Darrell Thorpe, M.D.,
president and CEO, TMC HealthCare.
(more)
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Page 3 of 3
"We are dedicated to ensuring a smooth transition so that our members,
providers and customers enjoy the same high level, local customer service they
enjoyed from HealthPartners," said James C. Crews, president and CEO, Samaritan
Health System and HealthPartners.
United HealthCare Corporation (www.unitedhealthcare.com) is a diversified
health care management company that provides a broad spectrum of resources and
services to help people achieve improved health and well-being through all
stages of life. United HealthCare is organized into six business segments:
Health Plans, Retiree and Senior Services, Strategic Business Services,
Insurance Services, Specialized Care Services and Knowledge and Information.
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EDITOR'S NOTE: HEALTHPARTNERS OF ARIZONA MEMBERS MAY CALL 1-888-290-4747 IF THEY
WOULD LIKE MORE INFORMATION ABOUT THIS ANNOUNCEMENT.
