• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Health Net to Assist the Government of Dubai in the Development of Its New Healthcare Funding System

Posted on: Tuesday, 1 April 2008, 15:00 CDT

Health Net Federal Services, LLC (Health Net), the government operations division of Health Net, Inc. (NYSE:HNT), has been appointed by the Dubai Health Authority (DHA) to assist in the development of its new healthcare funding system.

Health Net will be working directly with The Dubai Health Authority (DHA), created following a royal decree in June 2007. The DHA's goal is to improve current health care services and facilities within Dubai to the benefit of all United Arab Emirate nationals, residents and visitors and to expand the system's capabilities as Dubai continues to grow.

Health Net believes the Government of Dubai put significant weight on the company's 20 years of experience partnering with the U.S. Department of Defense in its TRICARE program. The TRICARE program coordinates care for nearly 3 million eligible members using a hybrid health care delivery system comprised of military treatment facilities and a private sector network of health care professionals.

"We are honored to have been chosen by the Government of Dubai to help in this project," said Jay Gellert, president and chief executive officer of Health Net, Inc.

About Health Net Federal Services

Health Net Federal Services, a subsidiary of Health Net, Inc., has a long history of providing cost-effective, quality managed health care programs for government agencies including the Department of Defense and Veterans Affairs. As the managed care support contractor for the TRICARE North Region, Health Net provides health care services to over 3 million uniformed services beneficiaries, active and retired, and their families.

Health Net, Inc. is among the nation's largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company's health plans and government contracts subsidiaries provide health benefits to approximately 6.6 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net's behavioral health subsidiary, MHN, provides mental health benefits to approximately 7.0 million individuals in all 50 states. The company's subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.

For more information on Health Net, Inc., please visit the company's Web site at www.healthnet.com. For more information on Health Net Federal Services, please visit www.healthnetfederalservices.com.

Cautionary Statements

Health Net, Inc. and its representatives may from time to time make written and oral forward-looking statements, including statements contained in news releases, in Health Net's filings with the Securities and Exchange Commission, in the company's reports to shareholders and in meetings with investors and analysts, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, that involve a number of risks and uncertainties. All statements, other than statements of historical information provided herein, may be deemed to be forward-looking statements. These statements are based on management's analysis, judgment, belief and expectation only as of the date hereof, and are subject to uncertainty and changes in circumstances. Without limiting the foregoing, the words "believes,""anticipates,""plans,""expects,""may,""should,""could,""estimate,""intend" and other similar expressions are intended to identify forward-looking statements. Actual results could differ materially due to, among other things, rising health care costs, negative prior period claims reserve developments, trends in medical care ratios, issues relating to provider contracts, litigation costs, regulatory issues, operational issues, health care reform and general business conditions. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the "Risk Factors" section included within the company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of this release.

Source: Business Wire

More News in this Category