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Pacificare Health Systems

BUSINESS
October 18, 2005 | Debora Vrana, Times Staff Writer
Directors of California's giant public pension fund voted Monday to oppose $345 million in payments that top executives of PacifiCare Health Systems Inc. would reap from the sale of the health insurer to UnitedHealth Group Inc. The California Public Employees' Retirement System, or CalPERS, holds a small fraction of PacifiCare shares, but it is the first institutional investor to take a position on the proposed $8.1-billion acquisition. Shareholders are scheduled to vote Nov. 17.
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BUSINESS
September 16, 2005 | Debora Vrana, Times Staff Writer
State Treasurer Phil Angelides and the California Medical Assn. on Thursday criticized the proposed purchase of Cypress-based insurer PacifiCare Health Systems Inc., calling $315 million in payouts to top executives excessive. One day before a Sacramento public hearing on the proposed $8.1-billion deal with Minnetonka, Minn.-based UnitedHealth Group Inc., Angelides also asked the administration of Gov.
BUSINESS
August 26, 2005 | Lisa Girion, Times Staff Writer
Consumers told state regulators Thursday that they feared UnitedHealth Group Inc.'s bid to buy PacifiCare Health Systems Inc. would lead to higher premiums, harmful changes in their health plan benefits and a reduction in competition among HMOs. At a hearing in Santa Ana, critics of the $8.
BUSINESS
August 2, 2005 | Debora Vrana, Times Staff Writer
Top executives of PacifiCare Health Systems Inc. would earn nearly $230 million if it was acquired by industry giant UnitedHealth Group Inc. by Feb. 1, according to documents filed with the state Monday. In their filings the companies, which announced the $8.
BUSINESS
July 29, 2005 | Debora Vrana, Times Staff Writer
Just weeks after agreeing to an $8.1-billion deal to be acquired by America's second-largest health insurer, Orange County-based PacifiCare Health Systems Inc. said Thursday that second-quarter profit rose 20% as it gained members, raised premiums and cut medical costs. "We are very pleased with the year-over-year increase in our earnings," which were ahead of analysts' expectations, said Howard Phanstiel, chief executive of PacifiCare.
BUSINESS
July 21, 2005 | Michael Hiltzik
Just as the human body needs exercise to remain healthy, government regulators need frequent challenges to maintain their, well, regularity. So we should probably be grateful that the proposed acquisition of PacifiCare Health Systems Inc. by UnitedHealth Group Inc. offers the state Department of Managed Health Care an opportunity to get limber.
BUSINESS
July 17, 2005
Two key points in "CEOs Defend Healthcare Deal," July 9: 1. The article states that after the acquisition of PacifiCare Health Systems Inc. by UnitedHealth Group Inc. some treatments will be available only to those who can afford them. 2. PacifiCare Chief Executive Howard Phanstiel says he would reap about $190 million from the transaction in company stock options, restricted shares and other equity instruments. This is the problem with the healthcare delivery system in the U.S. today.
BUSINESS
July 15, 2005 | Debora Vrana, Times Staff Writer
Days after announcing plans to buy an Orange County-based competitor, UnitedHealth Group -- the nation's No. 2 health insurer -- reported Thursday that its profit in the second quarter jumped 36%. UnitedHealth, based in Minnetonka, Minn., said last week that it would pay $8.1 billion for Cypress-based PacifiCare Health Systems, the nation's largest manager of Medicare plans for seniors.
BUSINESS
July 9, 2005 | Debora Vrana, Times Staff Writer
The acquisition of PacifiCare Health Systems Inc. by industry giant UnitedHealth Group Inc. would mean more competition in the health insurance business -- not less, the companies' chief executives said Friday. UnitedHealth's William W. McGuire and PacifiCare's Howard Phanstiel described the $8.1-billion deal -- which must win regulatory and shareholder approval -- as a step toward a more rational healthcare system.
BUSINESS
July 7, 2005 | Debora Vrana and Lisa Girion, Times Staff Writers
Insurance juggernaut UnitedHealth Group said Wednesday that it would buy Orange County-based PacifiCare Health Systems in an $8.1-billion deal that would give it a big stake in California and would accelerate consolidation of the health insurance business. UnitedHealth, the nation's second-largest health insurer with 22 million members, would gain ground on industry leader WellPoint Inc.
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