will be able to reach more customers with a broader and more innovative product selection because of our acquisition of Family Enterprises.
Under the agreement, BCBSUW will convert to a stock corporation and become a wholly owned subsidiary of UWSI
Hefty, Chairman, Chief Executive Officer and President of UWSI
said, "The company has fully complied with its obligations under all applicable securities laws and will vigorously defend these lawsuits.
When the combination is complete, UWSI
will change its name to "Cobalt Corporation.
is subject to final approval by the Wisconsin Office of the Commisioner of Insurance and approval by UWSI
shareholders, as well as other regulatory approvals.
Revenue growth by Specialty Managed Care and Other Products was driven in part by increases in workers' compensation revenue resulting from the transition of the United Heartland book of business from Virginia Surety Corporation to UWSI
in anticipation of a buyout in 1995 and revenue from the completed acquisition of CNR Health, Inc.
The combination is subject to approval by the Wisconsin Office of the Commissioner of Insurance and approval by the shareholders of UWSI
, as well as other regulatory approvals.
second quarter pre-tax income attributable to Small Group PPO Products was $6.
is a managed care company with the largest commercial health maintenance organization ("HMO") membership in Wisconsin, significant small group preferred provider products and substantial operations in specialty managed care and other products, including a large dental HMO, as well as life, workers' compensation, mental health and other businesses.
In other business, shareholders elected Jane Taylor Coleman to the UWSI
Board of Directors for a three-year term.
Managed Care Operations include HMO Products, Small Group Health Care Products, and Specialty Products and Services.
For the fourth quarter of 1993 on an after-tax basis, UWSI
reported net income of $6.