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December 18, 1988 | DAN MORAIN, Times Staff Writer
Angelo T. Commito was not your average insurance salesman. Jetting from his home in the Marin County community of Fairfax to his Palm Desert condo, to offices in New York and Chicago, Commito brokered and administered prepaid health plans for government workers and labor unions from California to New York. The 43-year-old entrepreneur boasted last year that he struck 100 deals in his career, and reaped an annual income of $3 million. "He was a very good host, so he got a lot of business.
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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 13, 1994 | From Associated Press
United HealthCare Corp., a fast-growing operator of health maintenance organizations, announced Monday that it has agreed to buy GenCare Health Systems Inc. for $520 million. The cash purchase would give Minneapolis-based United control of the largest health plan in St. Louis, with 365,000 customers in HMOs and other managed-care health and dental plans. United, founded in 1974, has grown rapidly in recent years through purchases of health care programs such as HMOs.
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
August 7, 1998 | From Bloomberg News
United HealthCare Corp. surprised investors on Thursday with a $900-million pretax charge in the second quarter, resulting in a loss for the second-largest U.S. health insurer and jeopardizing its plan to buy Humana Inc. United HealthCare's shares plunged 28%, falling $15 to close at $37.88 on the New York Stock Exchange, while Humana fell $6.63 to $19.13. United had put a $31.25 value on Humana's shares in its bid for the company in May.
BUSINESS
June 27, 1995 | From Times Staff and Wire Reports
United HealthCare Corp. said Monday that it will pay $1.65 billion for MetraHealth Cos., the combined group health care operations of Metropolitan Life Insurance Co. and Travelers Insurance Co. The deal would create the nation's biggest health care management services company. The combined United HealthCare and MetraHealth operation would have more than $8 billion in annual revenue and more than 40 million enrollees in a variety of programs providing health care management products and services.
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.
BUSINESS
August 15, 1996 | Times Staff and Wire Reports
Inglewood HMO Wins Ruling: A federal judge in Los Angeles has granted a preliminary injunction barring United HealthCare from advertising or promoting its HMO in Southern California. The ruling is a victory for United Health Plan, a nonprofit HMO based in Inglewood, that sued its giant Minneapolis-based rival two weeks ago for unfair competition and trade name infringement. U.S.
BUSINESS
December 3, 1999 | Bloomberg News
A federal judge denied a doctor's request to grant class-action status to his false-advertising lawsuit against Aetna Inc. and United HealthCare Corp. U.S. District Judge David Hittner rejected Dr. Kenneth Ford's request to allow him to bring his lawsuit on behalf of specialist doctors who have contracted with Aetna and United HealthCare, the nation's two largest health insurers.
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
December 3, 1999 | Bloomberg News
A federal judge denied a doctor's request to grant class-action status to his false-advertising lawsuit against Aetna Inc. and United HealthCare Corp. U.S. District Judge David Hittner rejected Dr. Kenneth Ford's request to allow him to bring his lawsuit on behalf of specialist doctors who have contracted with Aetna and United HealthCare, the nation's two largest health insurers.
NEWS
November 9, 1999 | SHARON BERNSTEIN, TIMES STAFF WRITER
In a dramatic sign that health plans are moving away from the tight controls and bottom-line incentives that have characterized much of managed care over the last decade, the nation's second-largest health insurer said Monday that it will quit interfering with doctors' decisions about patient care. Minneapolis-based United HealthCare said it will no longer require doctors to obtain authorization when choosing courses of treatment for their patients.
BUSINESS
August 7, 1998 | From Bloomberg News
United HealthCare Corp. surprised investors on Thursday with a $900-million pretax charge in the second quarter, resulting in a loss for the second-largest U.S. health insurer and jeopardizing its plan to buy Humana Inc. United HealthCare's shares plunged 28%, falling $15 to close at $37.88 on the New York Stock Exchange, while Humana fell $6.63 to $19.13. United had put a $31.25 value on Humana's shares in its bid for the company in May.
BUSINESS
August 15, 1996 | Times Staff and Wire Reports
Inglewood HMO Wins Ruling: A federal judge in Los Angeles has granted a preliminary injunction barring United HealthCare from advertising or promoting its HMO in Southern California. The ruling is a victory for United Health Plan, a nonprofit HMO based in Inglewood, that sued its giant Minneapolis-based rival two weeks ago for unfair competition and trade name infringement. U.S.
BUSINESS
July 27, 1996 | DAVID R. OLMOS, TIMES STAFF WRITER
A small Inglewood HMO has sued a giant competitor with a nearly identical name, complaining that its customers are getting confused and that its recruitment efforts will suffer as a result. United Health Plan, an 80,000-member HMO operated by the nonprofit Watts Health Foundation, filed a trade name infringement lawsuit Thursday against United Healthcare Corp., a Minnesota-based firm with 14 million members in all 50 states.
BUSINESS
June 27, 1995 | From Times Staff and Wire Reports
United HealthCare Corp. said Monday that it will pay $1.65 billion for MetraHealth Cos., the combined group health care operations of Metropolitan Life Insurance Co. and Travelers Insurance Co. The deal would create the nation's biggest health care management services company. The combined United HealthCare and MetraHealth operation would have more than $8 billion in annual revenue and more than 40 million enrollees in a variety of programs providing health care management products and services.
BUSINESS
July 27, 1996 | DAVID R. OLMOS, TIMES STAFF WRITER
A small Inglewood HMO has sued a giant competitor with a nearly identical name, complaining that its customers are getting confused and that its recruitment efforts will suffer as a result. United Health Plan, an 80,000-member HMO operated by the nonprofit Watts Health Foundation, filed a trade name infringement lawsuit Thursday against United Healthcare Corp., a Minnesota-based firm with 14 million members in all 50 states.
BUSINESS
October 11, 1994 | DON LEE, TIMES STAFF WRITER
Jeffrey M. Folick is leaving his job as president and chief executive officer of PacifiCare of California to become president of health plan operations at United HealthCare Corp. of Minneapolis, one of the nation's largest operators of health maintenance organizations, company officials confirmed Monday. Folick, 47, has been president of the Cypress-based PacifiCare since April, 1993.
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