Wellchoice (NYSE:WC)
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WellChoice, Inc. (NYSE: WC) will release its third
quarter 2005 results after the market closes on Wednesday, October 26,
2005. The company will also host a conference call and webcast later
that same day at 5:30 PM (EST) to review these results.
The conference call can be accessed domestically by dialing (800)
784-3697. International participants dial (706) 643-1656. Please ask
for reference number 1145004 ten minutes prior to the start of the
call. An audio replay of the call will be available for seven days
following the conference call. To access the replay, please dial (800)
642-1687 and enter reference number 1145004. International callers can
access the replay by dialing (706) 645-9291 and enter reference number
1145004.
Investors, analysts and the general public are also invited to
listen to the conference call over the Internet by visiting
WellChoice's web site at www.wellchoice.com. Financial, statistical
and other information, including GAAP reconciliations, related to the
conference call will be available on the site.
To listen to the webcast, please visit the WellChoice web site at
least 20 minutes prior to the start of the call to download and
install any necessary audio software. A webcast replay will be
available following the call.
Individuals who listen to the call and/or webcast are encouraged
to read the company's filings with the Securities and Exchange
Commission, including the discussion of risk factors and WellChoice's
historical results of operations and financial condition in its 2004
Annual Report on Form 10-K for the year ended December 31, 2004 and
its Quarterly Report on Form 10-Q for the three months ended March 31,
2005 and for the three months ended June 30, 2005.
About WellChoice
WellChoice, Inc. is the parent company of the largest health
insurer in the State of New York, based on PPO and HMO membership.
WellChoice, through its Empire Blue Cross Blue Shield subsidiaries,
has the exclusive right to use the Blue Cross and Blue Shield names
and marks in 10 downstate New York counties and one or both of these
names and marks in selected counties in upstate New York. WellChoice
offers a broad portfolio of products, including managed care and
traditional indemnity products, and has a varied customer base
including large group, middle-market and small group, individual, and
national accounts. Additional information on WellChoice can be found
at http://www.wellchoice.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release contains certain forward-looking information
about WellPoint, Inc. ("WellPoint"), WellChoice, Inc. ("WellChoice")
and the combined company after completion of the transactions that are
intended to be covered by the safe harbor for "forward-looking
statements" provided by the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are statements that are not
historical facts. Words such as "expect(s)", "feel(s)", "believe(s)",
"will", "may", "anticipate(s)" and similar expressions are intended to
identify forward-looking statements. These statements include, but are
not limited to, financial projections and estimates and their
underlying assumptions; statements regarding plans, objectives and
expectations with respect to future operations, products and services;
and statements regarding future performance. Such statements are
subject to certain risks and uncertainties, many of which are
difficult to predict and generally beyond the control of WellPoint and
WellChoice, that could cause actual results to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include:
those discussed and identified in public filings with the U.S.
Securities and Exchange Commission ("SEC") made by WellPoint (formerly
Anthem, Inc.), WellPoint Health Networks Inc. ("WellPoint Health") and
WellChoice; trends in health care costs and utilization rates; our
ability to secure sufficient premium rate increases; competitor
pricing below market trends of increasing costs; increased government
regulation of health benefits and managed care; significant
acquisitions or divestitures by major competitors; introduction and
utilization of new prescription drugs and technology; a downgrade in
our financial strength ratings; litigation targeted at health benefits
companies; our ability to contract with providers consistent with past
practice; other potential uses of cash in the future that present
attractive alternatives to share repurchases; our ability to achieve
expected synergies and operating efficiencies in the WellPoint Health
merger within the expected time-frames or at all and to successfully
integrate our operations; such integration may be more difficult,
time-consuming or costly than expected; revenues following the
transaction may be lower than expected; operating costs, customer loss
and business disruption, including, without limitation, difficulties
in maintaining relationships with employees, customers, clients or
suppliers, may be greater than expected following the transaction; our
ability to consummate WellPoint's merger with WellChoice, to achieve
expected synergies and operating efficiencies in the merger within the
expected time-frames or at all; to meet expectations regarding
repurchases of shares of our common stock and to successfully
integrate our operations; such integration may be more difficult,
time-consuming or costly than expected; revenues following the
transaction may be lower than expected; operating costs, customer loss
and business disruption, including, without limitation, difficulties
in maintaining relationships with employees, customers, clients or
suppliers, may be greater than expected following the transaction; the
regulatory approvals required for the transaction may not be obtained
on the terms expected or on the anticipated schedule; our ability to
meet expectations regarding the timing, completion and accounting and
tax treatments of the transaction and the value of the transaction
consideration; future bio-terrorist activity or other potential public
health epidemics; and general economic downturns. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof. Neither WellPoint
nor WellChoice undertakes any obligation to republish revised
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
Readers are also urged to carefully review and consider the various
disclosures in WellPoint's and WellChoice's various SEC reports,
including but not limited to Annual Reports on Form 10-K for the year
ended December 31, 2004 and Quarterly Reports on Form 10-Q for the
reporting periods of 2005.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This communication is being made in respect of the proposed merger
transaction involving WellPoint and WellChoice. In connection with the
proposed transaction, WellPoint and WellChoice will prepare a
registration statement on Form S-4, containing a proxy
statement/prospectus for the stockholders of WellChoice to be filed
with the SEC and each will be filing other documents regarding the
proposed transaction with the SEC as well. BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER
RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. The final proxy statement/prospectus will be
mailed to WellChoice's stockholders. Investors and security holders
will be able to receive the registration statement containing the
proxy statement/prospectus and other documents free of charge at the
SEC's web site, www.sec.gov, from WellPoint Investor Relations at 120
Monument Circle, Indianapolis, Indiana 46204, or from WellChoice
Investor Relations at 11 West 42nd Street, New York, New York 10036.
PARTICIPANTS IN SOLICITATION
WellPoint, WellChoice and their directors and executive officers
and other members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the proposed
transaction. Information regarding WellPoint' s directors and
executive officers is available in WellPoint's proxy statement for its
2005 annual meeting of shareholders, which was filed with the SEC on
April 8, 2005, and information regarding WellChoice's directors and
executive officers is available in WellChoice's proxy statement for
its 2005 annual meeting of stockholders, which was filed with SEC on
March 28, 2005. Information regarding the persons who may, under the
rules of the SEC, be considered participants in the solicitation of
WellChoice stockholders in connection with the proposed transaction
will be set forth in the proxy statement/prospectus when it is filed
with the SEC.