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FOR IMMEDIATE RELEASE
Investor and Media Contact:
HealthAxis.com
Steven M. Kaplan
610-275-3800
[email protected]
HealthAxis.com to Appoint James W. McLane
as New Chief Executive Officer
Current CEO Michael Ashker to Become Chairman
With Focus on Strategic Transactions
East Norriton, PA--December 19, 2000 -- HealthAxis.com, a subsidiary of
HealthAxis Inc. (NASDAQ: HAXS) and a leading provider of Web-enabling software
solutions for healthcare payers and intermediaries, today announced plans to
appoint James W. McLane as its new President and Chief Executive Officer. These
positions are currently both held by Michael Ashker, HealthAxis.com's
co-founder. Mr. Ashker will become Chairman of the Company and will focus
primarily on developing highly strategic relationships and appropriate business
opportunities for HealthAxis.com. These changes will become effective upon the
earlier of the completion of the Company's planned upstream merger with
HealthAxis Inc., which is expected to occur shortly after the currently planned
January 26th, 2001 shareholders' meeting, or February 1, 2001. Mr. McLane is
presently a member of the HealthAxis.com Board of Directors and an active
consultant to the Company.
Mr. McLane joined the HealthAxis.com Board in August 2000 after a distinguished
25-year career in both the healthcare and financial services sectors. Mr. McLane
previously served as a Senior Vice President and Division Executive at Citicorp,
Executive Vice President for Group Health and Life for Aetna and Chief Executive
Officer of Aetna Health Plans, and as President and Chief Operating Officer of
NovaCare, Inc. Since joining the HealthAxis.com Board, Mr. McLane has been
actively engaged in building the Company's organization, refining its strategy,
accelerating its sales and marketing efforts, and advising the Chief Executive
and Chief Operating Officers on significant issues.
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"Jamie McLane has the right skill set, experience, energy, and leadership
abilities to take HealthAxis.com to the next level - something he has
demonstrated each and every day of his five months with us. The Company is
extremely fortunate to have someone of his caliber ready to take the reins,"
said Michael Ashker. "The last few years has been a period of rapid growth for
HealthAxis.com, rising from a business model on my lap-top computer, into an
enterprise that is commonly acknowledged to be the leader in the emerging
e-health space. Jamie is joining a company that is on sound footing and poised
for its next growth stage. However, to achieve that growth and to capitalize on
the opportunities before us requires a bolstering of our management team, and I
believe Jamie has the proven skill set to meet this challenge. In my new role as
Chairman, I will be able to focus on forging key strategic alliances and
executing value-enhancing, cross-business industry relationships."
"Over the past five months, I have come to know HealthAxis.com as a company with
great potential in the e-health space. Its technology and its people are
first-rate in every respect", said James W. McLane. "I believe that my
experience throughout 25 years in the healthcare and financial services sectors
will enable me to provide the leadership and management skills necessary to
ensure that these competitive advantages are properly leveraged to the benefit
of the Company's customers, employees, and shareholders. Michael Ashker has done
a superb job of building the foundation. He is to be commended for persevering
and succeeding through often-turbulent conditions, and for always maintaining
his unshakable faith in the Company's mission to be a technology leader in the
healthcare market. I am looking forward to working closely with him and Dennis
Maloney, the Board and the rest of the management team at HealthAxis.com, to
assist the Company in achieving its true potential."
Alvin H. Clemens will cease serving as Chairman of the Board of Directors, but
will continue to serve as Chairman of the Board's Executive Committee. Dennis
Maloney, the Company's Chief Operating Officer, and former Chief Executive
Officer of Insurdata, will continue to serve in that position.
About HealthAxis
HealthAxis.com, a subsidiary of HealthAxis Inc., is a leader in Web-enabling
both healthcare payers and the intermediaries through which product is sold and
serviced. The Company's proprietary Insur-Web(TM), Insur-Enroll, and
Insur-Admin(TM) product line allows clients to participate in the emerging
digital economy by integrating client legacy systems into the World Wide Web.
HealthAxis customers enjoy reduced costs and enhanced productivity in their core
business operations -- including plan rating, distribution, enrollment, and
member services -- through the integration of the Company's advanced,
XML-enabled product line. Additionally, HealthAxis provides payers with software
and services for claims processing, plan administration, and imaging through the
following products: Insur-Claims(TM), Insur-Dental(TM), Insur-Image(TM), and
Insur-Voice(TM). The Company's customers include leading health insurers, Blue
Cross/Blue Shield organizations, third-party administrators, and Web-based
insurance and benefits marketers. HealthAxis.com is headquartered in suburban
Philadelphia, with significant operations in Dallas, as well as offices in eight
additional locations both domestic and abroad. The company employs over 350 IT
professionals
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Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Certain statements made which are not historical facts may be considered
forward-looking statements, including, without limitation, statements as to
trends, management's beliefs, expectations and opinions, which are based upon a
number of assumptions concerning future conditions that ultimately may prove to
be inaccurate. Such forward-looking statements are subject to risks and
uncertainties and may be affected by various factors, which may cause actual
results to differ materially from those in the forward-looking statements. For
further information which could cause actual results to differ from the Company
's expectations, as well as other factors which could affect the Company 's and
HealthAxis Inc.'s financial statements, please refer to HealthAxis Inc.'s
reports filed with the Securities and Exchange Commission.
