| In the Matter of the Disclaimer of Control in relation to the Acquisition of AETNA US HEALTHCARE, INC., a Registered health maintenance Organization, and AETNA US HEALTHCARE OF WASHINGTON, INC., A registered health care service contractor. | ) ) ) ) ) ) ) ) ) |
No. G 99-49 NOTICE OF HEARING |
Aetna U.S. Healthcare, Inc.
Post Office Box 1109
Blue Bell, Pennsylvania 19422
Thomas R. Williams, President
Aetna U.S. Healthcare of Washington, Inc.
Post Office Box 1109
Blue Bell, Pennsylvania 19422
Jean Margo Reid
Sr. Vice President and General Counsel
Sanford C. Burnstein & Co., Inc.
767 Fifth Avenue
New York, New York 10153-0185
Aetna, Inc. is a Connecticut domestic insurance holding company. Aetna, Inc. is the ultimate controlling person of the following Washington domestic insurance companies:
| Aetna US Healthcare, Inc., a registered health maintenance organization | |
| and | |
| Aetna US Healthcare of Washington, Inc., a registered health care service contractor. |
Sanford C. Burnstein & Co., Inc. filed its disclaimer of control as to the identified Washington domestic insurers in anticipation of its acquisition of 10% or more of the voting stock of Aetna, Inc.
The acquisition of a domestic Washington insurance company is controlled by Chapter 48.31B RCW. RCW 48.31B.005 establishes a presumption of control "if a person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing, ten percent or more of the voting securities of any other person."
YOU ARE HEREBY NOTIFIED that a hearing will be held commencing Friday, December 17, 1999, at 10:00 a.m. in the 2nd Floor Conference Room at 420 Golf Club Road, Lacey, Washington 98503, to consider all appropriate action concerning the proposed acquisition of Aetna U.S. Healthcare, Inc. and Aetna U.S. Healthcare of Washington, Inc. as described in the Disclaimer of Control attached to this notice as Exhibit A and Exhibit 1.
The hearing will be held under the authority granted the Commissioner by RCW 48.02.060(3) and RCW 48.31B.025(11).
The basic facts relied upon are those set forth in the Disclaimer of Control filed with the Commissioner. The complete Disclaimer of Control will be made part of the record of the hearing.
The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.
All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.
The Commissioner will be represented by James Tompkins, Assistant Deputy Commissioner.
Deputy Insurance Commissioner James T. Odiorne has been designated to hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0420.
ENTERED AT OLYMPIA, WASHINGTON, this 12th day of November, 1999.
| DEBORAH SENN Insurance Commissioner
Deputy Insurance Commissioner Company Supervision Division |