June 12, 1998 |
Oxford Health Plans Inc. said it stopped marketing and most enrollment in its Medicare plans following a federal review that criticized the company. The managed-care firm, which offers coverage to Medicare patients in New York, New Jersey, Connecticut and Pennsylvania, said the action will let it improve its Medicare operations.
April 28, 1998 |
Oxford Health Plans Inc. said Monday that it lost $29 million, or 37 cents a diluted share, in the first quarter, in a report that raised hopes for the troubled managed-care company. The loss contrasts with a profit of $34.4 million, or 42 cents, a year ago. Oxford late last year ran into billing and computer problems, which saddled it with heavy losses. But the Norwalk, Conn.
April 3, 1998 |
At the urging of New York state, Oxford Health Plans Inc. agreed to suspend a $9-million compensation package for its founder and outgoing chairman in light of the company's finances. Oxford said it will withhold future payments to Stephen Wiggins, pending discussions with the state's insurance department.
February 25, 1998 |
Oxford Health Plans Inc. reported a worse-than-expected loss of $285 million for the fourth quarter and said it is realigning its top management after having secured a $710-million rescue package. The troubled health-maintenance organization said investment firm Texas Pacific Group, based in Fort Worth and San Francisco, agreed to invest $350 million in Norwalk, Conn.-based Oxford and plans to raise another $350 million through a debt offering. Oxford named Norman C.
February 24, 1998 |
Oxford Health Plans Inc., the troubled health-care provider, said Monday that it will announce a top management shake-up and financing package this week. The company would not confirm speculation that its chairman and founder, Stephen F. Wiggins, would resign. But Oxford spokeswoman Nicole Reilly did say that the shake-up announcement--which could come as soon as today--would include information on Wiggins' future with the company.
February 7, 1998 |
Franklin Mutual Advisors Inc., a group of investment funds managed by Michael Price, reported that it holds a 5.3% stake in troubled managed-care company Oxford Health Plans Inc. Oxford shares rose $2.94 to close at $19.25 on the Nasdaq Stock Market. The stock rose as much as 15% on news of Price's stake. The filing with the Securities and Exchange Commission limits how actively Price can attempt to influence the Norwalk, Conn.