CALIFORNIA | LOCAL
November 16, 1997 |
City administrators have recommended against lowering tax rates for health maintenance organizations, dealing a potential financial blow to five HMOs that had sought tax breaks. The recommendation was made in a report, released late Friday to the City Council's Budget and Finance Committee, that was prepared by the city administrative officer, chief legislative analyst and city clerk.
October 29, 1999 |
Aetna Inc., the biggest U.S. health insurer, said U.S. regulators are reviewing its acquisitions, including this year's $1-billion purchase of a Prudential Insurance Co. of America unit, to determine if it properly accounted for costs. The Securities and Exchange Commission review is the latest in a series of problems with the Prudential HealthCare acquisition, which took half a year to pass regulatory muster and is losing money at a rate equal to $175 million a year.
CALIFORNIA | LOCAL
April 4, 1997 |
Despite threatening to leave Los Angeles in a tax dispute two months ago, Prudential HealthCare instead has leased 300,000 square feet of office space near downtown for a regional customer service center that will employ 1,400 people. The deal, which Mayor Richard Riordan's aides say is the biggest infusion of jobs in the downtown area in a decade, was completed despite the firm's assertion that the city's business taxes are too high.
March 1, 1997 |
In an effort to consolidate some California operations, Prudential HealthCare said Friday that it will open a regional service center in the Los Angeles area that will employ about 1,400 people by early 1998. The health-care division of Prudential Insurance Co. of America, based in Roseland, N.J., said the center will handle customer relations, billing and claims services that are now divided among five California cities: San Diego, San Mateo, Simi Valley, Stockton and Woodland Hills.
November 14, 1998
* Sprint Corp. shareholders approved the long-distance phone company's plan to assume full ownership of its Sprint PCS and create a separate class of stock for the business. * Foundation Health Systems Inc. tapped Cora Tellez, president and chairwoman of Prudential Health Care Plan of California Inc., as chief executive and president of its HealthNet unit, effective on Monday. Tellez, 49, succeeds Arthur M. Southam, who resigned earlier in the week.
May 15, 1998 |
Health Care Property Investors Inc. said Thursday it agreed to buy 36 clinics and two undeveloped properties from Prudential Health Care Plan Inc. for about $86 million. The properties, in Georgia, North Carolina, Florida, Tennessee, Oklahoma, Ohio, Colorado and Texas, total 739,557 square feet and about seven acres of vacant land. The 36 clinics are leased to eight physician group practices.