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) July 17, 1998
RIGHTCHOICE MANAGED CARE, INC.
(Exact name of registrant as specified in its charter)
Missouri 1-13248 43-1674052
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1831 Chestnut Street, St. Louis, Missouri 63103-2275
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (314) 923-4444
Item 5. Other Events
The registrant's press release, dated July 17, 1998,
relating to an extension to reach a definitive agreement to
resolve litigation with the Missouri Department of Insurance
and the Missouri Attorney General through the establishment
of a charitable health care foundation, is attached as an
exhibit hereto and incorporated herein by reference.
EXHIBIT INDEX
99 Press release dated July 17, 1998.
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
hereunto duly authorized.
RightCHOICE Managed Care, Inc.
July 21, 1998 [s] SANDRA VAN TREASE
Sandra Van Trease
Chief Financial Officer,
Executive Vice President and
Chief Operating Officer
Exhibit 99
RIGHTCHOICE MANAGED CARE, INC. LETTERHEAD
CONTACT: Clara Webb Kinner
(314) 923-6268
Missouri Attorney General, Department of Insurance and
Blue Cross and Blue Shield of Missouri Announce Extension to Reach
Definitive Agreement
ST. LOUIS, JULY 17, 1998 -- Blue Cross and Blue Shield of
Missouri, parent company of RightCHOICE Managed Care, Inc.
(NYSE:RIT), the Missouri Attorney General and the Missouri
Department of Insurance announced today that they continue to
work together to complete the proposed settlement announced April
22 and expect that a definitive agreement will be executed by
September 15, 1998.
The Attorney General, the Department of Insurance and Blue
Cross and Blue Shield of Missouri announced in April that they
had joined in a conceptual framework for an agreement that would
resolve all outstanding litigation and regulatory issues between
the state and the company and would create a charitable health
care foundation that would be managed by an independent board of
directors.
Since that time, all parties have devoted substantial effort
and resources to finalize a definitive settlement, and
significant progress has been made. The parties will extend the
previously announced standstill of certain litigation until
September 15, 1998.
When the settlement documents are finalized they will be
presented to the Cole County Circuit Court for approval. The
circuit court has informally advised the parties that it has
substantial reservations about the terms of the tentative
settlement as outlined, and will scrutinize any final settlement
presented to it very carefully.
(more)
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In addition to court approval, the definitive agreement would
include a number of conditions and contingencies, such as the
approvals of the Blue Cross and Blue Shield Association and
shareholders and possible securities registration filings which
may take several months to complete.
Safe Harbor Statement:
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Estimates and other statements set forth
herein that are not historical facts are forward-looking
statements that involve risks and uncertainties. These risks and
uncertainties include, but are not limited to: whether the
company will be able to reach final agreement with the state
within the parameters of the conceptual framework announced April
22, 1998, that would resolve all outstanding litigation and
regulatory issues between the state and the company; whether all
related contingencies will be fulfilled to effect the transaction
as proposed; governmental and regulatory action or legislation;
pending litigation; actions by the Blue Cross and Blue Shield
Association related to the license to use the Blue Cross and Blue
Shield names, trademarks and service marks; and additional
factors and other risks detailed in the company's Securities and
Exchange Commission filings.
Blue Cross and Blue Shield of Missouri and its for-profit
subsidiary, RightCHOICE Managed Care, Inc., provide managed care
services to almost 2 million members.
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