This agreement will infuse necessary capital into FOHP
while we continue to expand our capabilities," said Don Parisi, FOHP
's acting president and chief executive officer.
In January 1998, FHS established its Northeast Region, following the acquisitions of FOHP
and PHS, which joined M.
members are currently served by the FHS Call Center, with all PHS members slated to have access to the call center by April 1, 1998.
FHS provides administrative services for FOHP-NJ and owns Convertible Debentures convertible into up to 71 percent of the equity of FOHP, Inc.
Parisi returns to his duties as general counsel for FOHP, Inc.
The FHS investment is in the form of FOHP Convertible Debentures.
FOHP will pay FHS two percent of its premium revenue for these services.
FHS's investment gives FOHP needed financial stability and our operating experience should provide all associated with First Option a high degree of confidence in its ongoing commitment to service and quality," said Malik M.
also has a license pending in New York and we are anxious to begin our efforts there," Dr.
At closing, expected by year-end 1996, HSI will purchase $30 million worth of FOHP Convertible Subordinated Debentures.
HSI will receive management fees from FOHP for these services.
This agreement will add needed financial strength to FOHP, and allow us to continue the process of strengthening our internal systems and evaluating growth opportunities," said Jack Rohfritch, FOHP's acting president and CEO.