January 18, 1994 |
Medical Care America to Sell Unit: The Dallas-based company said it has agreed to sell Critical Care America, the home infusion services unit it acquired only 1 1/2 years ago, to Northbrook, Ill.-based Caremark International Inc. for about $175 million in cash. The company plans to use proceeds from the sale, along with up to $50 million of its own cash, to buy back up to 7 million of its 36.
April 8, 1997
Integrated Health Services Inc. dropped its $551.5-million bid to acquire Coram Healthcare Corp., scuttling plans to create one of the largest U.S. home-health-care companies. The decision was made in part because of a disagreement over litigation tied to Coram's 1995 acquisition of a Caremark International Inc. unit, Coram said. . . . The Federal Trade Commission has opened an inquiry into whether ads by Miller Brewing Co., a unit of Philip Morris Cos.
May 21, 1996 |
FPA Medical Management Inc. said Monday that it will buy Sterling Healthcare Group Inc. for as much as $208.4 million of stock and debt to use Sterling's managed hospital-emergency departments as the nucleus of doctors' networks. The companies are expected to generate $370 million in revenue this year, making FPA one of the largest physician practice managers in the nation. FPA's acquisition is part of a consolidation in doctors' practice management. Last week, MedPartners/Mullikin Inc.
December 27, 1996
Dr. Albert E. Barnett, who was fired as chief executive of Friendly Hills Medical Group last month, has filed a wrongful termination lawsuit against the health-care company's new owner. The complaint, filed in Orange County Superior Court, followed a lawsuit brought by Long Beach-based MedPartners Inc. last month accusing Barnett and two other former Friendly Hills executives of breach of contract and business fraud.
January 22, 1997 |
Birmingham, Ala.-based MedPartners Inc. said it will buy InPhyNet Medical Management Inc. for stock valued at $451 million, expanding its dominance in the business of managing doctors' practices. The acquisition is MedPartners' seventh in the last year, including its $1.9-billion September purchase of Caremark International Inc. It bolsters MedPartners' status as the largest provider of services to doctors who work in hospitals and extends its presence in the Southeastern U.S.
April 26, 1996 |
As in any business, once a health care company gets to a certain size, it has to start doing things differently. Consider Friendly Hills Healthcare in La Habra, for example. In January, the diversified medical group quadrupled the number of people it serves when it picked up 300,000 new health plan members across Southern California from Cigna Corp. The acquisition, engineered by Friendly Hills' parent, Illinois-based Caremark International Inc.