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.