December 11, 1997 |
FPA Medical Management Inc. said Oxford Health Plans Inc., which is facing problems with billings, is current in all of its prepayments to FPA. Responding to investor questions about its exposure to the Norwalk, Conn.-based health maintenance organization, San Diego-based FPA said it has a customized process to receive paid claims information from Oxford. FPA's shares fell $2.13 to close at $19.88 on Nasdaq.
July 10, 1997 |
Healthsource Inc. agreed to let some of its members use San Diego-based FPA Medical Management Inc.'s pool of doctors under a seven-year agreement between the companies, FPA said. Under the accord, Healthsource would allow its 188,000 members in New Jersey, South Carolina and Texas to see FPA doctors, FPA said. Hooksett, N.H.-based Healthsource agreed in February to be acquired by insurer Cigna Corp. for $1.7 billion in cash and assumed debt.
July 3, 1997 |
FPA Medical Management Inc. agreed to buy closely held Health Partners Inc. for $115 million in stock, a move that would give FPA physician practices in several new states, including Ohio, Kentucky and Virginia, and the District of Columbia. It would also bolster FPA's presence in New Jersey, New York and Texas, the company said. Norwalk, Conn.-based Health Partners is a physician-practice management company with a network of 418 doctors.
June 24, 1997 |
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.
June 7, 1997 |
FPA Medical Management Inc. agreed to buy closely held HealthCap Inc. of San Diego in a stock swap that analysts valued at about $47 million. Under the agreement, the third-largest physician-practice management firm will issue 2.1 million shares, analysts said. The firm's stock rose 62.5 cents to close at $22.25 on Nasdaq. FPA, also based in San Diego, said the agreement would add 2,100 doctors in five states.
May 22, 1997 |
San Diego-based FPA Medical Management Inc. said Wednesday it has expanded its agreement to provide physicians for patients in PacifiCare Health Systems Inc. managed-care plans. FPA, whose doctors already treat PacifiCare members in Arizona, California and Texas, said it will extend services to Cypress-based PacifiCare in at least two new areas by the end of 1997. Financial terms weren't disclosed. FPA represents doctors in negotiations with managed-care plans.
April 15, 1997 |
FPA Medical Management Inc. said Foundation Health Systems Inc. doesn't intend to sell its 7.6% stake in FPA. The 4 million shares, worth about $70 million at current prices, had been registered for resale two months ago. Foundation Health got the shares Dec. 11 when it sold 30 affiliated medical centers in Arizona and California to FPA as part of a $220 million agreement. FPA shares rose $2 to close at $17.50 on Nasdaq, while Foundation Health shares gained 37.5 cents to close at $27.
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.
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.