July 8, 1994
A Northern California health care-related company has completed its acquisition of two Irvine companies specializing in cost containment and administration of workers' compensation programs. Foundation Health Corp. of Rancho Cordova said it has acquired Reviewco and the Noetics Group, which are affiliated with each other. The two companies had combined revenue of about $20 million last year. Terms of the acquisition were not disclosed.
November 30, 1996 |
Foundation Health Corp. said the waiting period for the company's planned $1.27-billion combination with Woodland Hills-based Health Systems International Inc. expired and that no antitrust concerns were raised by the Federal Trade Commission. The transaction would create the nation's fourth-largest managed-health-care company, with 5 million members and $8 billion in annual revenue. The companies said the agreement still needs shareholder approval and other regulatory approvals.
December 31, 1991 |
DentiCare of California Inc., a dental health maintenance organization based here, has finalized a $22.8-million merger with Foundation Health Corp. of Sacramento, the companies said Monday. DentiCare President Carl E. Bozzo said the merged entity plans to expand by acquiring other dental HMOs and a vision plan company this year. DentiCare now has 375,000 members, and hopes to have 1 million members by 1994, Bozzo said. Foundation Health Corp. is a medical HMO with 1.2 million members.
October 2, 1996 |
Two of California's largest HMOs, Foundation Health Corp. and Health Systems International, on Tuesday announced a $3-billion suturing that would create a managed-care giant with about 5 million members in more than a dozen states. The "merger of equals" would form the nation's fourth-largest publicly held health maintenance organization in an industry where ranks are shifting rapidly because of consolidation. The new company would be called Foundation Health Systems.
December 10, 1995
"Many States Fail to Adequately Monitor HMOs, Study Finds" (Nov. 29), which suggests that HMOs are not adequately regulated, begs a question: What oversight of medical services existed before? HMOs have inarguably added an entirely new level of quality assurance and accountability that never existed when medicine was characterized by solitary physicians and hospitals. Before HMOs, did anyone proactively monitor quality or check for malpractice judgments and adequate training? Did anyone go into doctors' offices to survey patient medical records to see if appropriate treatment, preventive tests and follow-up occurred?
July 2, 1996 |
A San Diego company that manages doctor practices said Monday that it has agreed to buy two Foundation Health Corp. physician groups and 30 health-care centers for $220 million in cash and stock. Foundation, one of California's largest HMOs, said it decided to sell the physician groups to FPA Medical Management largely as a cost-saving move. Instead of managing the groups itself, Foundation would now contract out those services to FPA Medical.
November 13, 1996 |
Foundation Health Corp. said fiscal first-quarter net income fell 10% as rising medical costs offset increasing enrollment in its health plans. The Rancho Cordova-based operator of managed-care plans said net income fell to $35.8 million, or 61 cents a share, from a profit from continuing operations of $39.7 million, or 69 cents, in the year-earlier period. Revenue rose 43%, to $1.03 billion from $724.0 million.