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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): DECEMBER 30, 1999
OXFORD HEALTH PLANS, INC.
(Exact name of registrant as specified in its charter)
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Delaware 0-19442 06-1118515
(State or other jurisdiction) (Commission (IRS Employer
of incorporation) File Number) Identification No.)
48 Monroe Turnpike, Trumbull, Connecticut 06611
(Address of principal executive offices) (Zip Code)
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(203) 459-6000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
The Company's Press Release dated January 3, 2000 is attached as an
Exhibit hereto and incorporated herein by reference.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
99(a) Press Release dated January 3, 2000
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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.
OXFORD HEALTH PLANS, INC.
Date: January 4, 2000 By: /s/ Yon Y. Jorden
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YON Y. JORDEN
Chief Financial Officer
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OXFORD HEALTH PLANS, INC. AND SUBSIDIARIES
EXHIBIT INDEX
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Exhibit Page
Number Description of Document Number
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99(a) Press Release dated January 3, 2000 5
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EXHIBIT 99(a)
CONTACT: MARIA GORDON SHYDLO
OXFORD HEALTH PLANS, INC.
(203) 459-7674
FOR IMMEDIATE RELEASE
OXFORD HEALTH PLANS APPOINTS
NEW PRESIDENT AND COO
-- MANAGEMENT RESTRUCTURING COMPLETED --
TRUMBULL, CONN. (January 3, 2000) - Oxford Health Plans, Inc. (NASDAQ: OXHP),
today appointed Charles M. Schneider, age 54, as president and chief operating
officer (COO) of the company, effective immediately. With this announcement, Dr.
Norman C. Payson, chairman and chief executive officer (CEO), also detailed the
restructuring of Oxford's senior management team.
As COO, Schneider will oversee the day-to-day operations of the company,
including health care delivery, sales, information systems, human resources,
claims and services. Dr. Payson will continue his leadership in strategic
matters and relationships, and will oversee the financial, legal and public
policy activities at Oxford.
"Oxford now is entering a new stage of leadership in the tri-state metropolitan
market and the time is right for us to reorganize accordingly," Dr. Payson
stated. "In my view, Chuck Schneider is the best operating manager in our
industry today. Our company now is poised to fully benefit from his leadership,
acumen and operating skills.
"Moreover, Chuck and I spent many years working together as a seamless team. I
could not be more enthusiastic," Dr. Payson continued.
Prior to accepting the position with Oxford, Schneider was president and founder
of The Concordant Group, LLC, a management consulting firm for managed care
companies and other health care providers. He worked with Dr. Payson at
HealthSource from 1990-1997, becoming executive vice president and chief
operating officer.
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OXFORD NAMES PRESIDENT - PAGE TWO
Dr. Payson also announced that Marvin P. Rich, Oxford's chief administrative
officer (CAO) and Thomas A. Beauchamp, chief information officer (CIO), will be
leaving Oxford to pursue other business opportunities.
"Marv is a world-class turnaround expert and played a critical role in Oxford's
recovery. Tom was important in the successful completion of our Y2K initiative,"
Dr. Payson commented. "Having completed their work here with distinction, we
wish them every success in their next ventures."
Arthur L. Gonzalez, age 48, will become senior vice president and CIO, effective
immediately. He was been with Oxford for the last 18 months and was instrumental
in the company's systems progress.
In reflecting back on recent management changes, Dr. Payson also added, "Bill
Sullivan (former president) and Jeff Boyd (former general counsel) provided us
with excellent continuity from Oxford's earlier successes. And with Marv, they
were critical to the successful turnaround.
"Oxford now is in an outstanding position to move forward with a highly
experienced, close-knit management team. We are ideally positioned to enhance
our leadership position in the greater New York market," Dr. Payson concluded.
Founded in 1984, Oxford Health Plans (www.oxhp.com) provides health plans to
employers in New York, New Jersey and Connecticut, through its direct sales
force and through independent insurance agents and brokers. Oxford's services
include traditional health maintenance organizations, point-of-service plans,
third-party administration of employer-funded benefit plans and Medicare+Choice
plans.
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