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Article: RightCHOICE and Missouri Officials Reach Preliminary Agreement; Conceptual Framework in Place to Resolve Litigation and Create Independent Health Care Foundation.
- Article from:
- Business Wire
- Article date:
- April 30, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. LOUIS--(BW HealthWire)--April 22, 1998--RightCHOICE Managed Care, Inc. (NYSE:RIT) today announced that its board and the board of parent company Blue Cross and Blue Shield of Missouri have joined with state officials in a conceptual framework for an agreement that would resolve all outstanding litigation and regulatory issues between the state and the company, and create a charitable health care foundation that would be managed by an independent, state-approved board of directors.
The foundation would be created through a series of transactions in which Blue Cross and Blue Shield of Missouri would contribute to the foundation its 15 million shares of ...