PacifiCare looks to rev up brand via motor sports sponsorship. * Company to sponsor Newman/Haas Racing Champ Car World Series entry and selected events in 2003. * Signs exclusive agreement as CART's 'Official Health Care Provider' CYPRESS, ...
PacifiCare looks to rev up brand via motor sports sponsorship.
* Company to sponsor Newman/Haas Racing Champ Car World Series entry and selected events in 2003.
* Signs exclusive agreement as CART's 'Official Health Care Provider'
CYPRESS, Calif., February 3, 2003 -- Looking to put some muscle and increased speed in its brand and company positioning, PacifiCare Health Systems, Inc. (NASDAQ: PHSY) announced it has reached an agreement with the celebrated Newman/Haas Racing (NHR) to sponsor their #1 car in the Championship Auto Racing Teams (CART) series for 2003. NHR, led by acclaimed actor Paul Newman and legendary racing entrepreneur Carl A. Haas, is the defending Champ Car World Series champion and a four-time CART series winner (1984, 1991, 1993 and 2002). The sponsorship marks PacifiCare's entry into motor sports as part of its marketing to position itself as a leading consumer health organization operating throughout the United States and Guam.
In addition to its NHR sponsorship, PacifiCare will sponsor three major Champ Car events in the 2003 season, serving as an official sponsor at the venerable Long Beach Grand Prix (April 13), the Milwaukee race (May 31) and the Denver event (August 31).
PacifiCare also announced it intends to serve as the exclusive and "Official Health Care Provider" for the entire Champ Car World Series schedule, including offering health insurance benefits and related services to Champ Car and NHR employees nationwide.
"This partnership with Paul Newman, Carl Haas and Newman/Haas Racing helps us extend our PacifiCare brand - both the name and its meaning - by being associated with a team of quality and achievement," said Howard G. Phanstiel, president and CEO of PacifiCare.
"PacifiCare is evolving into a leading consumer health organization. We believe this partnership is one of the most cost-effective means of generating product awareness to a large, diverse audience in a very short amount of time.
"Mr. Newman's well-known philanthropy is a perfect example of 'Caring is good. Doing something is better,'" Phanstiel added. "Our own commitment to improving the lives of our members, and our communities as a whole through the PacifiCare Foundation, were key factors in Mr. Newman choosing us as his partner." During the 2002 Champ Car season, the series garnered hours of network broadcast time and reached 21 million households. In addition to similar television coverage anticipated in 2003, PacifiCare is formulating internal plans to broaden awareness of its sponsorship investment with key audiences including brokers, employer customers, consultants and its employees.
"While most sponsors come to this sport to reach the broad audience it attracts, I was impressed by PacifiCare's interest in it from the symbolic standpoint that both of our businesses are fast-paced and dynamic," said Carl A. Haas, co-owner of Newman/Haas Racing. "I have had a chance to meet with their leadership recently. They're a company that subscribes to a fast-paced culture, is very focused on its customers and clearly on the move."
"I would like to welcome PacifiCare as the new primary sponsor of the #1 Newman/Haas car, driven by Bruno Junqueira," added team co-owner and actor Paul Newman. "I am looking forward to a long and productive relationship with PacifiCare. We look forward to great success together on and off the track, as we defend our 2002 CART championship."
About Newman/Haas Racing
Newman/Haas Racing, owned by actor/race car driver Paul Newman and racing entrepreneur Carl A. Haas, is the most successful team competing in the 2003 Bridgestone Presents The Champ Car World Series Powered by Ford. The team will begin their 21st season in CART in 2003 and will attempt to score their first back-to-back CART title as well as their fifth overall after winning 68 races and 70 pole positions. Drivers Bruno Junqueira and Sebastien Bourdais were preceded at the team by Mario and Michael Andretti, Nigel Mansell, Paul Tracy, Christian Fittipaldi and reigning 2002 series champion Cristiano da Matta. For more information log on to www.newman-haas.com or www.champcarworldseries.com.
PacifiCare Health Systems is one of the nation's largest consumer health organizations with approximately $11 billion in annual revenues. Primary operations include health insurance products for employer groups and Medicare beneficiaries in eight states and Guam, serving more than 3 million members. Other specialty products and operations include pharmacy and medical management, behavioral health services, life and health insurance and dental and vision services. More information on PacifiCare Health Systems can be obtained at www.pacificare.com.