DSY
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Discovery Holdings Limited - Destiny Health Press Announcement
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery")
DESTINY HEALTH PRESS ANNOUNCEMENT
15h00, Johannesburg, South Africa; 8h00, Chicago, USA - Destiny Health and
Tufts Health Plan today announced that they have agreed to end their alliance
formed three years ago to offer a consumer-directed health plan in
Massachusetts. The existing 10 000 members on the Liberty plan - the plan
jointly marketed by Destiny Health and Tufts Health Plan - will continue through
to the completion of their respective plan years, with no change in benefits,
networks and service levels until December 2007. New business sales will cease
with immediate effect.
The agreement allows Destiny Health to focus on strategic growth opportunities.
Adrian Gore, CEO of Discovery said: "Our partnership has fostered strong
acceptance of the concept of consumer-directed health care in Massachusetts and
sparked continued innovation within our companies. However, the strategic
interests of each party have diverged over time, and we have recently made the
mutual decision to wind the alliance down."
Sandton
7 July 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 07/07/2006 03:00:05 PM Produced by the JSE SENS Department
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