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Unihealth Plans to Sell More PacifiCare Shares

March 09, 2001|Dow Jones

Unihealth Foundation, which recently reduced its holdings in PacifiCare Health Systems Inc., the nation's largest provider of Medicare health care plans, said it plans to sell up to 1 million additional shares of the Santa Ana company over the next several weeks.

Unihealth, which owns 3.5 million shares of PacifiCare, sold 1 million shares last month on the open market for a total of $35.3 million, with prices ranging from $33.24 to $38.74 a share. The sale reduced the foundation's holdings to 10.8% from about 13.5%, according to regulatory documents.

The stock closed Thursday at $31.25, off 63 cents a share, in Nasdaq trading.

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