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Aetna's HMO Unit to Contract FPA Doctors

June 24, 1997|(Bloomberg News)

Aetna Inc.'s managed-care unit said it will let members of its health plans use FPA Medical Management Inc.'s pool of doctors under a 10-year agreement. Financial terms weren't disclosed. The contract will initially cover 12 states in which San Diego-based FPA has affiliated physicians, including California. FPA also expects to enter the New York market soon, the companies said. FPA's doctors in California serve about 7,000 Aetna U.S. Healthcare members and can now potentially serve about 4 million more. Aetna U.S. Healthcare, based in Blue Bell, Pa., is the largest managed-care provider in the U.S., with about 14 million members. FPA is the third-largest physician practice-management company, with about 21,000 affiliated doctors in 25 states. FPA shares rose 50 cents to close at $22.50 on Nasdaq; shares of Hartford, Conn.-based Aetna fell $1.125 to close at $107 on the New York Stock Exchange.

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