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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): December 24, 1998
UNITED HEALTHCARE CORPORATION
(Exact name of registrant as specified in its charter)
MINNESOTA 1-10864 41-1321939
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
300 Opus Center, 9900 Bren Road East, Minnetonka, Minnesota 55343
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 936-1300
N/A
(Former name or former address, if changed since last report)
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Item 5. OTHER EVENTS.
On December 24, 1998, UnitedHealth Group redeemed all of its outstanding
shares of 5.75% Series A Convertible Preferred Stock at an aggregate cost to
the Company of $520,125,000. The press release issued in connection with the
redemption is filed as an exhibit to this Current Report on Form 8-K and its
contents are incorporated herein by reference.
Item 7. EXHIBITS
99.1 Press Release, "UnitedHealth Group Redeems Convertible Preferred
Stock," dated December 24, 1998, issued by UnitedHealth Group.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
UNITED HEALTHCARE CORPORATION
By: /s/ David J. Lubben
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David J. Lubben
General Counsel and Secretary
Date: January 8, 1999
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EXHIBIT INDEX
Exhibit
Number
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99.1 Press Release, "UnitedHealth Group Redeems Convertible Preferred
Stock," dated December 24, 1998, issued by UnitedHealth Group.
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Exhibit 99.1
UNITEDHEALTH GROUP REDEEMS CONVERTIBLE
PREFERRED STOCK
MINNEAPOLIS (December 24, 1998) - UnitedHealth Group (NYSE: UNH) today
announced that it has redeemed all of its outstanding 5.75 percent Series A
Convertible Preferred Stock ("Preferred Stock"), at a price of $1,040.25 per
share, for an aggregate redemption cost of approximately $520 million.
The redemption of the Preferred Stock was funded using the proceeds from the
company's recent debt financing. Under the terms of the Preferred Stock,
UnitedHealth Group paid holders a call premium which was included in the
aggregate redemption cost of $520 million. This premium of approximately $20
million will be a one-time, non-operating charge in the fourth quarter of
1998 equal to $0.11 per share.
UnitedHealth Group (www.unitedhealthgroup.com) provides a broad spectrum of
resources and services to help people achieve improved health and well-being
through all stages of life. UnitedHealth Group is organized into six
businesses: UnitedHealthcare, Uniprise, Ovations, Specialized Care Services,
Ingenix and Unimerica.
