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Pacificare Health Systems

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.
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BUSINESS
April 5, 2005 | From Bloomberg News
PacifiCare Health Systems Inc., the biggest manager of Medicare health plans, and other insurers will get about a 4.8% payment increase from the program in 2006, the Centers for Medicare and Medicaid Services said Monday. Managed-care plans that enroll some of the 41 million people in Medicare, the U.S. government's health insurance program for the elderly and disabled, will get the increased payments, the Baltimore-based agency said.
BUSINESS
February 19, 2005 | From Bloomberg News
PacifiCare Health Systems Inc., the Cypress-based manager of Medicare healthcare plans, and other insurers may get an increase of at least 4% in overall payments from the program next year, the government said. The insurers were given an average reimbursement increase of at least 6.6% this year under a 2003 law to revamp Medicare, the U.S. government's health-insurance program for the elderly and disabled, at a cost of more than $500 billion.
BUSINESS
February 4, 2005 | Lisa Girion, By Lisa Girion Times Staff Writer
PacifiCare Health Systems Inc. said Thursday that its fourth-quarter profit more than doubled on the strength of membership growth and on premium hikes that exceeded the increase in the cost of medical care. For the quarter ended Dec. 31, PacifiCare reported net income of $72 million, or 76 cents a share, matching analysts' expectations, compared with net income of $31.5 million, or 35 cents a share, for the same quarter a year earlier.
BUSINESS
January 12, 2005 | From Reuters
PacifiCare Health Systems Inc. gave a 2005 earnings forecast that was roughly in line with Wall Street analysts' views, citing growth in commercial membership in its health plans. The Cypress-based health insurer estimated 2005 net income of $360 million to $375 million and 15% growth in revenue. It expects earnings of $3.64 to $3.80 a share and forecast first-quarter profit of 85 cents to 89 cents a share. That compares with the average estimates of analysts polled by Reuters Estimates of $3.
BUSINESS
July 30, 2004 | Dawn Wotapka, Times Staff Writer
Higher premiums helped generate a profitable quarter for PacifiCare Health Systems Inc., the company said Thursday. Net income for the second quarter was $76 million, or 80 cents a share, compared with $73 million, or 96 cents, in the same period a year ago. Per-share results were adjusted to reflect a two-for-one stock split in January. The results beat Wall Street expectations by 2 cents. Last year's second-quarter results included an after-tax gain of $8.
BUSINESS
November 6, 2003 | Debora Vrana, Times Staff Writer
PacifiCare Health Systems Inc. said Wednesday that its third-quarter earnings rose 54% from the same period a year earlier, as the Cypress-based health insurer cut its medical costs and increased membership in specialty areas. One of the nation's largest Medicare health-maintenance organizations, PacifiCare said net income for the quarter climbed to $67.5 million, or $1.72 a share, from $43.8 million, or $1.20 a share, a year earlier. Wall Street analysts had predicted $1.70 a share.
BUSINESS
August 1, 2003 | Debora Vrana, Times Staff Writer
PacifiCare Health Systems Inc. said Thursday that its second-quarter earnings more than tripled as the health insurer cut its medical costs and raised premiums. The company also sharply raised its 2003 profit forecast. The Cypress-based insurer, one of the nation's largest Medicare health maintenance organizations, said net income climbed to $73 million, or $1.92 a share, from $20.3 million, or 56 cents, during the same period last year. Wall Street analysts had predicted $1.33 a share.
CALIFORNIA | LOCAL
May 5, 2003
A health maintenance organization will start a scholarship program to encourage Latinos to join the health professions. PacifiCare Health Systems of Cypress announced last week it will provide 25 grants of $2,000 to Latino high school graduates who plan to join the health-care industry. The application deadline is June 30. Latinos seeking to become doctors, nurses, radiologists or support staff are eligible. Other requirements include a minimum grade-point average of 3.0 and fluency in Spanish.
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