Precis, Inc. Resolves Private Label Lawsuit
June 30 2005 - 11:15AM
PR Newswire (US)
Precis, Inc. Resolves Private Label Lawsuit GRAND PRAIRIE, Texas,
June 30 /PRNewswire-FirstCall/ -- The Capella Group, Inc., a
subsidiary of Precis, Inc. (NASDAQ:PCIS) that does business as
"Care Entree" has reached a settlement agreement in its dispute
with Equal Access Health, Inc. The terms of the settlement are
confidential, but do not involve the payment of any amount of money
by either party to the other. Equal Access Health no longer sells
the Care Entree product, but Care Entree has agreed to continue to
provide services for members previously sold by Equal Access Health
for a run-off period. As part of the settlement, Equal Access
Health issued a promissory note to Care Entree for amounts that it
currently owes and for amounts that it will be obligated to pay
Care Entree for certain future services. The settlement agreement
allows Equal Access Health to sell products competitive to those of
Care Entree. "We never believed that Care Entree had violated its
agreement with Equal Access Health and we are satisfied with the
efficient result in this case. We remain committed to providing
consumers a valuable service, delivered in an honest,
straightforward manner. As many Americans face a healthcare crisis,
services like Care Entree will be there to provide relief." Equal
Access Health had filed the lawsuit earlier this year, alleging,
among other things, that Care Entree had breached its agreement to
provide discount medical savings programs for resale. About Precis
Inc. Precis Inc. and its subsidiaries market non-insurance health
care savings programs, administer tax-favored reimbursement
accounts, provide third party administration services to self
funded employer groups and offer a broad range of financial
solutions such as health and life insurance to individuals and
businesses. For more information on Precis, its subsidiaries Care
125, Care Financial, LLC, and Access Administrators visit
http://www.precis-pcis.com/, http://www.care125.com/, and
http://www.care-financial.com/, http://www.ahs-access.com/
respectively. Contact: Eliseo Ruiz III General Counsel Precis, Inc.
972-343-6500 Joe Diaz The RCG Group 480-675-0400 Annemarie Marek
Marek & Company 469-235-2166 DATASOURCE: Precis, Inc. CONTACT:
Eliseo Ruiz III, General Counsel of Precis, Inc., +1-972-343-6500;
or Joe Diaz of The RCG Group, +1-480-675-0400; or Annemarie Marek
of Marek & Company, +1-469-235-2166, for Precis, Inc. Web site:
http://www.precis-pcis.com/ http://www.care125.com/
http://www.care-financial.com/ http://www.ahs-access.com/
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