CORAL GABLES, Fla., November 5 /PRNewswire/ -- Ramsay Managed Care, Inc.
(Nasdaq: RMCR) today announced that it has agreed to sell its HMO Division,
Apex Healthcare, Inc., to an established healthcare provider for a purchase
price of $4.35 million. The closing of the sale is subject to receipt of
regulatory approvals, third party consents and other customary conditions.
Paul J. Ramsay, Chairman of the Board, commented, "The sale of Apex
Healthcare, Inc. allows the Company to focus on its current business and is
consistent with the overall future strategy of the Company."
Ramsay Managed Care, Inc. operates a long established business in the
management of mental health services and substance abuse programs on behalf of
self insured employers, health maintenance organizations and governmental
agencies in various states and also operates the foregoing HMO Division.
SOURCE Ramsay Managed Care, Inc.
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CONTACT:
Bert Cibran, President, 305-569-4621, or
Barbara Blanco Corporate Relations Manager, 305-569-4646, both of
Ramsay Managed Care
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