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Pacificare Health Systems

CALIFORNIA | LOCAL
November 15, 2002 | Jeff Gottlieb, Times Staff Writer
On the eve of trial, the family of a Costa Mesa man has agreed to settle a case accusing a health maintenance organization and a doctor of not recommending a lung transplant because it would have cost them too much. George McCall was 58 when he died in 1999, three hours after having the transplant. The family contended he would have had a better chance of survival had surgery been done earlier, when he was in better health.
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BUSINESS
October 31, 2002 | Don Lee, Times Staff Writer
PacifiCare Health Systems Inc., which just a year ago was in the hot seat with investors and health providers, is beginning to make good on its promised turnaround. The nation's largest supplier of Medicare health plans reported Wednesday that its third-quarter profit more than doubled, to $43.8 million, as the Cypress-based company benefited from higher premiums and jettisoning money-losing members.
BUSINESS
October 20, 2002
I was surprised to learn that PacifiCare Health Systems Inc. has offered a new HMO program with a major catastrophic void noted ["PacifiCare's New HMO to Limit Choice," Oct. 4]. The gist of the program, as reported, is to reduce cost to employers as well as the insured by offering a trimmed-down number of physicians and authorized hospitals. The three hospitals that were dropped from PacifiCare's list were Childrens Hospital of Los Angeles, Cedars-Sinai Medical Center and UCLA. Probably more than 80% of the specialized critical pediatric care in this county is handled by these centers and the only other nongovernmental hospitals in this county that have pediatric intensive-care units are in Pasadena and Long Beach.
BUSINESS
August 1, 2002 | Reuters
PacifiCare Health Systems Inc., the biggest supplier of Medicare health plans in the U.S., said second-quarter earnings rose 33% from a year ago on improved pricing and cost controls. Santa Ana-based PacifiCare posted a net profit of $20.3 million, or 56 cents a share, compared with $15.3 million, or 45 cents, a year earlier. Sales fell 7% to $2.77 billion. Excluding charges, the company reported income of $31.8 million, or 88 cents a share, beating estimates by 8 cents.
BUSINESS
May 22, 2002 | Bloomberg News
PacifiCare Health Systems Inc. cut its second-quarter profit forecast to 85 cents to 88 cents because of higher interest costs and other expenses related to selling $500 million in debt. PacifiCare, the biggest U.S. operator of Medicare health plans, had forecast profit of 90 cents to 93 cents a share for the quarter. The Santa Ana-based company also set its full-year profit expectations at $3.37 to $3.47, down from its previous estimate of $3.55 to $3.65.
BUSINESS
May 22, 2002 | Bloomberg News
Claire's Stores Inc. sold its Lux apparel division, which operates 154 Mr. Rags stores, to a private investment group to focus on its main businesses. Terms weren't disclosed. Claire's, a retailer of accessories for teens, sold the Long Beach-based Lux division to a group led by Ivan Spiers and Bruce Friedman. The Pembroke Pines, Fla.-based retailer put Lux up for sale in January. Shares of Pembroke Pines, Fla.-based Claire's fell 56 cents to $20.02 on the NYSE.
BUSINESS
May 2, 2002 | From Bloomberg News
PacifiCare Health Systems Inc., the biggest operator of Medicare health plans, said it lost $858.8 million in its first quarter as it wrote down the value of acquisitions, as expected. The loss was $24.86 a share, contrasted with net income of $13.2 million, or 39 cents, a year earlier, the company said. Revenue fell 5.5% to $2.86 billion from $3.03 billion. Profit would have been $30.
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