CYPRESS, Calif., May 20 /PRNewswire-FirstCall/ -- PacifiCare Health Systems, Inc. today announced that its Board of Directors has authorized a share repurchase program under which up to $150 million worth of the company’s common stock may be repurchased. The company said that under the program repurchases may be made from time to time in the open market or through privately negotiated transactions using available cash, and may be discontinued at any time. PacifiCare had approximately 86,138,000 shares of common stock outstanding as of April 30, 2004.
PacifiCare Health Systems serves more than 3 million health plan members and approximately 9 million specialty plan members nationwide, and had annual revenues in 2003 of about $11 billion. PacifiCare is one of the nation’s largest consumer health organizations, offering individuals, employers and Medicare beneficiaries a variety of consumer-driven health care and life insurance products. Specialty operations include behavioral health, dental and vision, and complete pharmacy and medical management through its wholly owned subsidiary, Prescription Solutions. More information on PacifiCare Health Systems is available at http://www.pacificare.com/.
PacifiCare Health Systems, Inc.
CONTACT: public relations, Dan Miller of PacifiCare Health Systems,Inc., +1-714-226-3726
Web site: http://www.pacificare.com/
