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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Az4jr/PJIp4lGeCaSTxrhg==

<SEC-DOCUMENT>0001209191-05-006011.txt : 20050201
<SEC-HEADER>0001209191-05-006011.hdr.sgml : 20050201
<ACCEPTANCE-DATETIME>20050201174829
ACCESSION NUMBER:		0001209191-05-006011
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050128
FILED AS OF DATE:		20050201
DATE AS OF CHANGE:		20050201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SMITH JAMES C
		CENTRAL INDEX KEY:			0001183693

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-87986
		FILM NUMBER:		05566872

	MAIL ADDRESS:	
		STREET 1:		C/O FIRST HEALTH GROUP CORP
		STREET 2:		3200 HIGHLAND AVENUE
		CITY:			DOWNERS GROVE
		STATE:			IL
		ZIP:			60515

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HEALTH GROUP CORP
		CENTRAL INDEX KEY:			0000812910
		STANDARD INDUSTRIAL CLASSIFICATION:	HOSPITAL & MEDICAL SERVICE PLANS [6324]
		IRS NUMBER:				363307583
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3200 HIGHLAND AVENUE
		CITY:			DOWNERS GROVE
		STATE:			IL
		ZIP:			60515
		BUSINESS PHONE:		6307377900

	MAIL ADDRESS:	
		STREET 1:		3200 HIGHLAND AVENUE
		CITY:			DOWNERS GROVE
		STATE:			IL
		ZIP:			60515

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEALTHCARE COMPARE CORP/DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
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        <issuerName>FIRST HEALTH GROUP CORP</issuerName>
        <issuerTradingSymbol>FHCC</issuerTradingSymbol>
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            <rptOwnerName>SMITH JAMES C</rptOwnerName>
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            <rptOwnerStreet1>3200 HIGHLAND AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DOWNERS GROVE</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60515</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
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            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman of the Board</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>Common Stock</value>
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            <transactionDate>
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            </transactionDate>
            <transactionCoding>
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                <transactionCode>D</transactionCode>
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                <transactionPricePerShare>
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            <expirationDate>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <expirationDate>
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            <securityTitle>
                <value>Option to Purchase</value>
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                <value>2005-01-28</value>
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                <transactionShares>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2003-05-13</value>
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            <expirationDate>
                <value>2010-05-13</value>
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                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
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            <conversionOrExercisePrice>
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            <transactionDate>
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            <transactionAmounts>
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                <transactionPricePerShare>
                    <value>3.52</value>
                    <footnoteId id="F2"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
                <value>2004-05-13</value>
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            <expirationDate>
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                    <value>0</value>
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    </derivativeTable>

    <footnotes>
        <footnote id="F1">Disposed of pursuant to the merger agreement, dated October 13, 2004, by and among Coventry Health Care, Inc. (&quot;Coventry&quot;), Coventry Merger Sub Inc., and the issuer, in exchange for (a) 0.1791 shares of Coventry common stock having a market value of $54.75 per share on the effective date of the merger and (b) $9.375 in cash, per share.</footnote>
        <footnote id="F2">On January 28, 2005, these options were cancelled pursuant to the issuer's option tender offer in exchange for payment for each underlying share of common stock equal to the greater of: (a) the amount by which $18.75 exceeded the exercise price of the option, if any, or (b) $1.25.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Thomas M. Mastri, Attorney in Fact for James C. Smith</signatureName>
        <signatureDate>2005-02-01</signatureDate>
    </ownerSignature>
</ownershipDocument>

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</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----