| FOR IMMEDIATE RELEASE | CONTACT: Elizabeth Sammis |
| April 26, 1999 | (301) 838-5638 |
MAMSI Board Selects Chairman and President and CEO
Rockville, MD – Mid Atlantic Medical Services, Inc. (MAMSI) announced today at its annual meeting of shareholders that the Board of Directors, acting upon the recommendation of its Transition and Search Committee, has unanimously elected Mark D. Groban, M.D., Chairman of the Board, and Thomas P. Barbera, Esq., President and CEO of MAMSI.
"The Board is pleased that it was able to find two highly qualified and effective leaders here at MAMSI to move the company forward", said John Mamana, M.D., spokesperson for the Transition and Search Committee. "We are confident that Dr. Groban and Mr. Barbera have the talent, vision, experience, and business acumen to assure the best for our shareholders, customers and medical partners."
Dr. Mark Groban joined MAMSI full time in 1990. He has been President of MAMSI’s two preferred provider organizations, Alliance PPO, LLC and MAPSI and has served as medical director for Behavioral Health and Quality Improvement. Mr. Barbera joined MAMSI in 1993. He has been Vice-Chairman and Executive Vice President of the Government Health Services Division.
"I am pleased the Board has confidence in myself and Tom and has voted to let us continue to take MAMSI in a new direction," Dr. Groban said. "I am committed to improving our partnership with our participating physicians and other health care practitioners and to making sure our members know they have access to the finest practitioners in the region. At the same time, we reaffirm our commitment to increasing the value of our very exceptional franchise."
"The Board’s vote affirms our commitment to focusing on details so we continue to give our customers the best service in the industry," Mr. Barbera said. "Our state of the art backroom operations gives us the tools to offer new services to our members and participating physicians and other health care practitioners."
In other news, the company announced that the shareholders elected six Board members. The six are: Francis C. Bruno, M.D., Janet L. Norwood, John A. Paganelli, Ivan R. Sabel, James A. Wild, and Thomas P. Barbera. These six members join John H. Cook III, M.D., Raymond H. Cypess, D.V.M., Ph.D., Robert E. Foss, Mark D. Groban, M.D., John P. Mamana, M.D., William M. Mayer, M.D., Edward J. Muhl, and Gretchen P. Murdza on the Board of Directors.
Mid Atlantic Medical Services, Inc. is one of the largest managed care companies in the Mid-Atlantic region, with its health plan subsidiaries covering more than 1.7 million lives in Maryland, Virginia, Washington D.C., Pennsylvania, North Carolina, Delaware, and West Virginia. The Company’s internet address is www.mamsi.com.
Note 1: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: All forward-looking information or statements contained in this release are based on management’s current knowledge of factors, all with inherent risks and uncertainties, affecting MAMSI’s business. MAMSI’s actual results may differ materially if these assumptions prove invalid. Significant risk factors, while not all-inclusive, are: the possibility of increasing price competition in the Company’s marketplace; the possibility of state or Federal budget mandates that reduce premium levels; the possibility of increased medical expenses due to increased utilization, inflation or legislative mandates; and the possibility that the Company is not able to expand its Service Area as planned. Investors should review other risks and uncertainties contained in Company documents filed with the Securities and Exchange Commission.
Note 2: MAMSI is a regional holding company for health care organizations that provide comprehensive health insurance products and services including: M.D. IPA, a traditional HMO, and M.D. IPA Preferred, an open-ended version of the HMO; Optimum Choice, Inc., a non-federally qualified HMO; Optimum Choice of the Carolinas, Inc. (OCCI); Optimum Choice, Inc. of Pennsylvania (OCIPA); Alliance PPO, LLC, a preferred provider organization; Mid Atlantic Psychiatric Services, Inc. (MAPSI), a preferred provider organization offering managed psychiatric health care services; MAMSI Life and Health Insurance Company, an indemnity insurance company; HomeCall, Inc. and FirstCall, Inc., home health care companies; and HomeCall Pharmaceutical Services, Inc., a mail order pharmacy and home infusion services company.
Note 3: Mid Atlantic Medical Services, Inc. securities are traded on the New York Stock Exchange (NYSE-MME).