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BUSINESS
May 23, 1996 | Times Staff and Wire Reports
U.S. Healthcare Loses Antitrust Case: A federal jury ordered the Blue Bell, Pa.-based health-care provider to pay $1.2 million to a smaller rival that claimed the company coerced suppliers into using its services. The jury awarded compensatory damages of $200,000 and punitive damages of $1 million to Brokerage Concepts Inc. of King of Prussia, Pa. The compensatory damages would be automatically trebled under federal antitrust laws if the verdict withstands a possible appeal. U.S. Healthcare Inc.
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BUSINESS
May 23, 1996 | Times Staff and Wire Reports
U.S. Healthcare Loses Antitrust Case: A federal jury ordered the Blue Bell, Pa.-based health-care provider to pay $1.2 million to a smaller rival that claimed the company coerced suppliers into using its services. The jury awarded compensatory damages of $200,000 and punitive damages of $1 million to Brokerage Concepts Inc. of King of Prussia, Pa. The compensatory damages would be automatically trebled under federal antitrust laws if the verdict withstands a possible appeal. U.S. Healthcare Inc.
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BUSINESS
April 20, 1995 | From Times Staff and Wire Reports
Shares of managed-health-care companies, including two large Orange County HMO concerns, tumbled 10% or more on worries about price wars and pressure on profit margins. The slide was sparked by comments from U.S. Healthcare Inc. officials at an industry conference and a warning by United Wisconsin Services Inc. that first-quarter earnings will be much lower than expected, analysts said.
BUSINESS
February 3, 1996 | From Associated Press
A leading health insurer is trying to quell a growing chorus of critics who accuse managed-care plans of padding their profits by gagging doctors from telling their patients about more expensive treatment options. US Healthcare, a health maintenance organization with more than 2.2 million members, said Friday that it is replacing a clause that restricted what doctors could say with a clause that protects their freedom of speech. The Blue Bell, Pa.
BUSINESS
February 3, 1996 | From Associated Press
A leading health insurer is trying to quell a growing chorus of critics who accuse managed-care plans of padding their profits by gagging doctors from telling their patients about more expensive treatment options. US Healthcare, a health maintenance organization with more than 2.2 million members, said Friday that it is replacing a clause that restricted what doctors could say with a clause that protects their freedom of speech. The Blue Bell, Pa.
BUSINESS
July 29, 1986 | JUBE SHIVER Jr., Times Staff Writer
Just weeks after gobbling up the nation's third-largest investor-owned operator of health maintenance organizations, Maxicare Health Plans on Monday agreed to pay $400 million to acquire No. 2--financially troubled HealthAmerica Corp. The deal would catapult Los Angeles-based Maxicare to the top ranks of billion-dollar health-care firms with an estimated 2 million members and projected revenue of $1.6 billion in 1986 from operations in 32 states.
BUSINESS
April 5, 1996 | From Reuters
Corporate mergers have roared ahead in the first days of the second quarter, prompting Wall Street experts to predict another record year for mergers and acquisitions. Although some merger specialists previously doubted that 1996 could top 1995's record, the blockbuster pace seen in the year's first three months has quieted the cynics.
BUSINESS
September 9, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
HMO stocks took a tumble Wednesday after the federal government announced that Medicare will give smaller rate increases next year than the industry had expected. Two Southern California health maintenance organizations--Pacificare Health Systems Inc. and FHP International Corp.--are among the biggest players in the $250-billion market. Their shares were down sharply. The Class A stock of Pacificare, whose Medicare business accounts for about 52% of its premium revenue, lost $5.
BUSINESS
October 14, 1993 | DAVID R. OLMOS, TIMES STAFF WRITER
Stocks of health maintenance organizations took a lashing Wednesday after California's giant public employee pension fund said it would seek a 5% reduction in insurance premiums for its members next year. While some analysts expressed doubts that the California Public Employees Retirement System will be able to negotiate such a large reduction, the news sparked a broad selloff among managed care stocks, even among firms that do not do business in California.
BUSINESS
December 14, 2001 | RONALD D. WHITE, TIMES STAFF WRITER
Aetna Inc., the nation's largest health insurer, said Thursday it will cut 6,000 jobs, or roughly 16% of its work force, as it continues struggling to digest its acquisitions of the 1990s. Aetna's latest move follows 5,000 other job cuts it has announced already this year and a third-quarter loss of $54.4 million. About 4,400 of the latest reductions will come through layoffs, with the other 1,600 through attrition.
BUSINESS
April 20, 1995 | From Times Staff and Wire Reports
Shares of managed-health-care companies, including two large Orange County HMO concerns, tumbled 10% or more on worries about price wars and pressure on profit margins. The slide was sparked by comments from U.S. Healthcare Inc. officials at an industry conference and a warning by United Wisconsin Services Inc. that first-quarter earnings will be much lower than expected, analysts said.
BUSINESS
February 26, 2000 | From Bloomberg News
Aetna Inc., the biggest U.S. health insurer, said Richard Huber on Friday resigned as chairman and chief executive amid shareholder pressure. The company's shares have lost more than half their value since May. Huber, 63, was replaced by William H. Donaldson, 68, a co-founder of Donaldson, Lufkin & Jenrette Inc., a former chief executive of the New York Stock Exchange and a member of Aetna's board since 1977. Donaldson will head a company with three main businesses: U.S.
BUSINESS
September 9, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
HMO stocks took a tumble Wednesday after the federal government announced that Medicare will give smaller rate increases next year than the industry had expected. Two Southern California health maintenance organizations--Pacificare Health Systems Inc. and FHP International Corp.--are among the biggest players in the $250-billion market. Their shares were down sharply. The Class A stock of Pacificare, whose Medicare business accounts for about 52% of its premium revenue, lost $5.
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