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HealthCare USA rejected Maxicare's buyout offer.

June 26, 1986

Los Angeles-based Maxicare had offered $54 million for HealthCare USA. Harlan Loomas, chairman and chief executive of HealthCare, an HMO headquartered in Orange, said, however, that his directors have authorized him to "pursue negotiations" with Maxicare, which already owns 11.9% of HealthCare's 5.1 million shares of common stock outstanding.

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