-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K+xESZUaXSmImoGAPL14ziQBqezPA2t+dZjXh1u1PMv6a8L+8gkOgTGpttOE5QwM O7f7J3Eaqcc2bWG3GBpHLQ== 0000909518-99-000732.txt : 19991223 0000909518-99-000732.hdr.sgml : 19991223 ACCESSION NUMBER: 0000909518-99-000732 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991222 GROUP MEMBERS: CAPITAL Z FINANCIAL SERVICES FUND II, L.P. GROUP MEMBERS: CAPITAL Z PARTNERS, L.P. GROUP MEMBERS: CAPITAL Z PARTNERS, LTD. GROUP MEMBERS: HEALTH PARTNERS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HEALTHEXTRAS INC CENTRAL INDEX KEY: 0001090403 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HEALTH SERVICES [8000] IRS NUMBER: 522181356 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-57323 FILM NUMBER: 99779075 BUSINESS ADDRESS: STREET 1: 2275 RESEARCH BOULEVARD STREET 2: 7TH FLOOR CITY: ROCKVILLE STATE: MD ZIP: 20850 BUSINESS PHONE: 3015482900 MAIL ADDRESS: STREET 1: 2275 RESEARCH BOULEVARD STREET 2: 7TH FLOOR CITY: ROCKVILLE STATE: MD ZIP: 20850 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HEALTH PARTNERS CENTRAL INDEX KEY: 0001099594 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 54 THOMPSON ST CITY: NEW YORK STATE: NY ZIP: 10012 BUSINESS PHONE: 2129650800 MAIL ADDRESS: STREET 1: 54 THOMPSON ST CITY: NEW YORK STATE: NY ZIP: 10012 SC 13D 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------------------ SCHEDULE 13D (RULE 13D-101) Under the Securities Exchange Act of 1934 HEALTHEXTRAS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE PER SHARE - -------------------------------------------------------------------------------- (Title of Class of Securities) 422211102 - -------------------------------------------------------------------------------- (CUSIP Number) Health Partners 54 Thompson Street New York, New York 10012 Attention: David A. Spuria (212) 965-0800 - -------------------------------------------------------------------------------- (Name, address and telephone number of person authorized to receive notices and communications) December 17, 1999 - -------------------------------------------------------------------------------- (Date of event which requires filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box [ ]. 33560.0024
- ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only) Health Partners - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - Contributions from Partners - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Bermuda - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 4,420,000 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 4,420,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 4,420,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 16.0% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- -------------------------------------------------------------------------------------------------------
2
- ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only) Capital Z Financial Servies Fund II, L.P.* - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: Not Applicable - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Bermuda - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 4,420,000* OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 16.0% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- -------------------------------------------------------------------------------------------------------
* Solely in its capacity as general partner of Health Partners. 3
- ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only) Capital Z Partners, L.P.* - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: Not Applicable - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Bermuda - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 4,420,000* OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 16.0% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- -------------------------------------------------------------------------------------------------------
* Solely in its capacity as the sole general partner of Capital Z Financial Services Fund II, L.P. 4
- ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only) Capital Z Partners, Ltd.* - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: Not Applicable - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Bermuda - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 4,420,000* OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 4,420,000* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 16.0% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- -------------------------------------------------------------------------------------------------------
* Solely in its capacity as the sole general partner of Capital Z Partners, L.P. 5 ITEM 1. SECURITY AND ISSUER Common Stock, $0.01 par value per share (the "Common Stock") HealthExtras, Inc. (the "Company") 2275 Research Boulevard, 7th Floor Rockville, Maryland 20850 ITEM 2. IDENTITY AND BACKGROUND (a) Name of Person(s) Filing this Statement (the "Filing Parties"): Health Partners, a Bermuda general partnership ("Health Partners"); Capital Z Financial Services Fund II, L.P., a Bermuda limited partnership ("Capital Z Fund II"); Capital Z Partners, L.P., a Bermuda limited partnership ("Capital Z L.P."); and Capital Z Partners, Ltd., a Bermuda corporation ("Capital Z Ltd."). (b) Residence or Business Address: The principal business address of the Filing Parties is 54 Thompson Street, New York, New York 10012. (c) Present Principal Occupation: Health Partners is a general partnership that invests in the securities of healthcare services companies and related businesses. Capital Z Fund II is a private equity fund formed to engage in the investment in securities of financial services entities and serves as a general partner of Health Partners. Capital Z L.P. is a business entity formed to serve as the sole general partner of Capital Z Fund II. Capital Z Ltd. is a business entity formed to serve as the sole general partner of Capital Z L.P. (d) Convictions in Criminal Proceedings during the last 5 Years: None of the Filing Parties has been convicted in a criminal proceeding during the last 5 years. (e) Proceedings involving Federal or State Securities Laws: None of the Filing Parties has, during the last 5 years, been a party to any civil proceeding as a result of which he or it was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws. 6 (f) Citizenship: Each of the Filing Parties is organized under the jurisdiction indicated in paragraph (a) of this Item 2. Other Information The attached Schedule I is a list of all of the general partners of Health Partners that are not also Filing Parties, which contains the following information with respect to each entity: (i) name; (ii) jurisdiction of organization; (iii) principal business address; and (iv) present principal occupation. The attached Schedule II is a list of the directors and executive officers of Capital Z Ltd., which contains the following information with respect to each person: (i) name; (ii) principal business address; and (iii) present principal occupation or employment. None of the entities or persons identified on Schedule I or Schedule II hereto has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). None of the entities or persons identified on Schedule I or Schedule II hereto has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Each person identified on Schedule II hereto is a United States citizen, except for Laurence W. Cheng, who is a citizen of Canada. Steven M. Gluckstern, who is the Chairman of the Board of Capital Z Ltd., and Robert A. Spass, who is the Deputy Chairman of the Board of Capital Z Ltd., may be deemed to be beneficial owners of the Notes, and the underlying Common Stock of the Company, held by Health Partners. Messrs. Gluckstern and Spass disclaim any such beneficial ownership. 7 ITEM 3. SOURCE AND AMOUNT OF FUNDS As more fully described in Item 6 below, on May 27, 1999, Capital Z Healthcare Holding Corp. ("Capital Z Healthcare") initially invested $5.0 million in HealthExtras, LLC in exchange for a 20% ownership interest in HealthExtras, LLC. Health Partners, the sole shareholder of Capital Z Healthcare, used contributions from its partners to fund the purchase of Capital Z Healthcare's interest in HealthExtras, LLC. Such partners, in turn, used contributions from their respective partners to fund such contributions to Health Partners. ITEM 4. PURPOSE OF TRANSACTION The Filing Parties consummated the transactions described herein in order to acquire a significant interest in the Company and for investment purposes. Subject to market conditions, the provisions contained in that certain Lock-Up Agreement, dated as of December 17, 1999, by and between Warburg Dillon Read LLC and Health Partners and other factors, the Filing Parties or their affiliates may acquire or dispose of the Common Stock of the Company from time to time in future open-market, privately negotiated or other transactions, may enter into agreements with third parties relating to acquisitions of securities issued or to be issued by the Company or may effect other similar agreements or transactions. ITEM 5. INTEREST IN SECURITIES OF ISSUER (a) and (b) Each of the Filing Parties may be deemed to beneficially own in the aggregate 4,420,000 shares of the Common Stock of the Company by virtue of Health Partners' ownership of the Common Stock of the Company. With respect to such shares of Common Stock, (i) none of the Filing Parties has the sole power to vote or to direct the vote, or to dispose or to direct the disposition, of such shares, and (ii) each of the Filing Parties has the shared power to vote or to direct the vote, and to dispose or to direct the disposition, of such shares. The aggregate number of shares of Common Stock covered by this Schedule 13D represents approximately 16.0% of the outstanding shares of Common Stock (based on calculations made in accordance with Rule 13d-3(d) of the Exchange Act and based on the number of shares of Common Stock outstanding as contained in the Company's most recently available filing with the Securities and Exchange Commission). Each of the Filing Parties disclaims beneficial ownership of all securities covered by this Schedule 13D not owned of record by it. (c) Except as set forth herein, to the knowledge of the Filing Parties with respect to the other persons named in response to paragraph (a), none of the persons named in response to paragraph (a) has effected any transactions in shares of Common Stock during the past 60 days. (d) None. (e) Not applicable. 8 ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO THE SECURITIES OF THE ISSUER On May 27, 1999, Capital Z Healthcare invested $5.0 million in HealthExtras, LLC in exchange for a 20% ownership interest in HealthExtras, LLC. Pursuant to that certain Reorganization Agreement (the "Reorganization Agreement"), dated as of December 9, 1999, by and among the Company, HealthExtras, LLC and Capital Z Healthcare, Capital Z Healthcare merged with and into the Company and, immediately thereafter, HealthExtras, LLC merged with and into the Company. As a result of such mergers, Health Partners, the sole stockholder of Capital Z Healthcare, received 4,420,000 shares of Common Stock. In connection with the transactions contemplated by the Reorganization Agreement, Health Partners entered into that certain Stockholders Agreement (the "Stockholders Agreement"), dated as of December 9, 1999, by and among the Company, Health Partners and Highland Investments, LLC ("Highland"). Pursuant to the Stockholders Agreement, as more fully described in Article 3 thereof, the parties agreed that the Board of Directors of the Company would initially consist of nine individuals (subject to certain exceptions and adjustments) and that Health Partners would be entitled to designate two directors. The Stockholders Agreement, as more fully described therein, also contains provisions regarding registration rights, tag-along rights, rights of first offer and preemptive rights with respect to certain sales of Common Stock. Also in connection with the transactions contemplated by the Purchase Agreement, Health Partners, Highland and the Company entered into that certain Registration Rights Agreement (the "Registration Rights Agreement"), dated as of December 17, 1999. As more fully described in the Registration Rights Agreement, the Company granted to Health Partners and Highland four demand registration rights and certain other incidental registration rights with respect to offerings made by the Company under the Securities Act of 1933, as amended. The descriptions of the Reorganization Agreement, the Stockholders Agreement, and the Registration Rights Agreement contained herein are qualified in their entirety by reference to the applicable agreements, which are incorporated by reference herewith as Exhibits 99(a), 99(b) and 99(c), respectively. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS 99(a) Reorganization Agreement, dated as of December 9, 1999, by and between the Company, HealthExtras, LLC and Capital Z Healthcare.* 99(b) Stockholders Agreement, dated as of December 9, 1999, by and among the Company, Health Partners and Highland Investments, LLC.* 99(c) Registration Rights Agreement, dated as of December 17, 1999, by and among the Company, Health Partners and Highland Investments, LLC.* * Incorporated by reference to the form of such agreement included in the Company's Pre-Effective Amendment No. 2 to its Registration Statement on Form S-1 as filed with the Securities and Exchange Commission on October 20, 1999. 9 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: December 22, 1999 HEALTH PARTNERS By: Capital Z Financial Services Fund II, L.P., its General Partner By: Capital Z Partners, L.P., its General Partner By: Capital Z Partners, Ltd., its General Partner By: /s/ David A. Spuria -------------------------------------------------------- David A. Spuria General Counsel, Vice President of Administration and Secretary 10 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: December 22, 1999 CAPITAL Z FINANCIAL SERVICES FUND II, L.P. By: Capital Z Partners, L.P., its General Partner By: Capital Z Partners, Ltd., its General Partner By: /s/ David A. Spuria -------------------------------------------------------- David A. Spuria General Counsel, Vice President of Administration and Secretary 11 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: December 22, 1999 CAPITAL Z PARTNERS, L.P. By: Capital Z Partners, Ltd., its General Partner By: /s/ David A. Spuria -------------------------------------------------------- David A. Spuria General Counsel, Vice President of Administration and Secretary 12 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: December 22, 1999 CAPITAL Z PARTNERS, LTD. By: /s/ David A. Spuria ------------------------------------------------------- David A. Spuria General Counsel, Vice President of Administration and Secretary 13 SCHEDULE I ---------- OTHER GENERAL PARTNERS OF HEALTH PARTNERS Capital Z Financial Services Private Fund II, L.P. ("Private Fund II"), a Bermuda limited partnership that was formed to engage in the investment in securities of financial service entities, is a general partner of Health Partners. The principal business address of Private Fund II is 54 Thompson Street, New York, New York 10012. International Managed Care Advisors, Inc. ("IMCA"), a Delaware corporation that was formed to invest in and advise healthcare services companies, is a general partner of Health Partners. The principal business address of IMCA is 54 Thompson Street, New York, New York 10012. 14 SCHEDULE II ----------- CAPITAL Z PARTNERS, LTD. Name, business address and present principal occupation or employment of the directors and executive officers: Steven M. Gluckstern Chairman of the Board 54 Thompson Street New York, New York 10012 Robert A. Spass Deputy Chairman of the Board 54 Thompson Street New York, New York 10012 Laurence W. Cheng President and Director 54 Thompson Street New York, New York 10012 Bradley E. Cooper Senior Vice President and Director 54 Thompson Street New York, New York 10012 Mark K. Gormley Senior Vice President and Director 54 Thompson Street New York, New York 10012 Adam M. Mizel Senior Vice President and Director 54 Thompson Street New York, New York 10012 Paul H. Warren Senior Vice President and Director 54 Thompson Street New York, New York 10012 15 Scott M. Delman Senior Vice President and Director 54 Thompson Street New York, New York 10012 David A. Spuria General Counsel, Vice President of Administration and Secretary 54 Thompson Street New York, New York 10012 Roland V. Bernardon Chief Financial Officer, Treasurer and Assistant Secretary 54 Thompson Street New York, New York 10012 16 Exhibit Index -------------
Name of Exhibit Page Number --------------- ----------- 99(a) Reorganization Agreement, dated as of December 9, 1999, by and between the Company, HealthExtras, LLC and Capital Z Healthcare.* 99(b) Stockholders Agreement, dated as of December 9, 1999, by and among the Company, Health Partners and Highland Investments, LLC.* 99(c) Registration Rights Agreement, dated as of December 17, 1999, by and among the Company, Health Partners and Highland Investments, LLC.* * Incorporated by reference to the form of such agreement included in the Company's Pre-Effective Amendment No. 2 to its Registration Statement on Form S-1 as filed with the Securities and Exchange Commission on October 20, 1999. 17
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