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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): July 21, 1997
FOUNDATION HEALTH SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-12718 95-4288333
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(Commission File Number) (IRS Employer Identification No.)
21600 Oxnard Street, Woodland Hills, California 91367
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(Address of principal executive office)
Registrant's telephone number, including area code: (818) 719-6775
Not applicable
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(Former name or former address, if changed since last report)
Page 1 of 6
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Exhibit Index is located at Page 4
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Item 5. OTHER EVENTS.
On July 21, 1997 and August 1, 1997, the Registrant issued the
press releases attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively,
which press releases are incorporated by reference herein.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) EXHIBITS
Item No. Exhibit Index
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99.1 Press release issued July 21, 1997
by the Registrant.
99.2 Press release issued August 1, 1997
by the Registrant.
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SIGNATURE
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 hereunto duly authorized.
FOUNDATION HEALTH SYSTEMS, INC.
By:
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Jeffrey L. Elder
Senior Vice President, and
Chief Financial Officer
Dated: August 1, 1997
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EXHIBIT INDEX
Exhibit Number Description Page No.
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99.1 Press release issued July 21, 1997 5
99.2 Press release issued August 1, 1997 6
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Exhibit 99.1
DANIEL D. CROWLEY RESIGNS FROM FHS BOARD
LOS ANGELES, JULY 21, 1997 - Foundation Health Systems, Inc. (NYSE-FHS)
today announced that Daniel D. Crowely has resigned from the company's Board
of Directors, effective July 16, 1997. FHS was formed by the April 1, 1997
merger involving Foundation Health Corporation (FHC) and Health Systems
International, Inc. (HSI).
Under the company's by-laws, the five FHS board members who were FHC
board members prior to the merger will nominate an individual to replace
Mr. Crowley.
I have enjoyed working with the FHS Board of Directors for the last few
months as we worked to bring the two companies together, said Daniel D.
Crowley. FHS is now well positioned to become one of the nation's leading
managed care organizations, and now I am anxious to move on and focus my
energies on new challenges.
On behalf of the company, I want to thank Dan for his dedicated service
in building Foundation Health Corporation, said Malik M. Hasan, M.D.,
chairman and chief executive officer of FHS. We wish him the very best in
the future.
FHS is the nation's fourth-largest publicly traded managed health care
company. Its mission is to enhance quality of life for its customers by
offering products distinguished by their quality, service and affordability.
The company's HMO, insured PPO and government contracts subsidiaries provide
health benefits to nearly five million individuals in 17 states through
group, individual, Medicare risk, Medicaid and CHAMPUS programs. FHS
subsidiaries also offer managed health care products related to workers'
compensation, PPO networks, behavioral health, dental, vision and
prescription drugs, and offer managed health care product coordination for
multi-region employers and administrative services for medical groups and
self-funded benefits programs.
# # #
FHS Media Contact: Kurt Davis
(916)631-5288
[email protected]
FHS Investor Contact: David Olson
(818)719-6978
[email protected]
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Exhibit 99.2
FHS BOARD WITHDRAWS CROWLEY NOMINATION
LOS ANGELES, August 1, 1997 - Foundation Health Systems, Inc. (NYSE:FHS)
today announced that its Board of Directors has withdrawn the nomination of
Daniel D. Crowley to be elected to the FHS Board at the company's upcoming
1997 annual stockholders meeting. The Board took this action in connection
with Mr. Crowley's recent resignation from the FHS Board.
FHS is the nation's fourth-largest publicly traded managed health care
company. Its mission is to enhance quality of life for its customers by
offering products distinguished by their quality, service and affordability.
The company's HMO, insured PPO and government contracts subsidiaries provide
health benefits to nearly five million individuals in 17 states through
group, individual, Medicare risk, Medicaid and CHAMPUS programs. FHS
subsidiaries also offer managed health care products related to workers'
compensation, PPO networks, behavioral health, dental, vision and
prescription drugs, and offer managed health care product coordination for
multi-region employers and administrative services for medical groups and
self-funded benefits programs.
# # #
FHS Media Contact: Kurt Davis
(916) 631-5288
[email protected]
FHS Investor Contact: David Olson
(818) 719-6978
[email protected]
