March 2, 2000 |
Medical insurance giant Aetna Inc., its own health faltering amid a growing public outcry over the managed-care industry, said Wednesday that it had received a $10.3-billion takeover offer from a partnership that includes smaller rival WellPoint Health Networks Inc., the Thousand Oaks-based parent of Blue Cross of California.
June 9, 1999 |
Shares of WellPoint Health Networks Inc., one of state's biggest health insurers, rose 3.2% after an announcement that its shares will be included in the Standard & Poor's 500 Index beginning today. Its stock price jumped $2.69 to close at $86.13 on the NYSE. The company will replace Harnischfeger Industries Inc., the world's biggest mining-equipment maker, in the index. Harnischfeger filed for bankruptcy protection this week.
CALIFORNIA | LOCAL
May 11, 1999
WellPoint Health Networks in Thousand Oaks said that first-quarter earnings rose 5.8% as it boosted premiums and membership. Profit from operations rose to $71.2 million, or $1.04 a share, compared with profit from continuing operations of $67.2 million, or 95 cents a share, a year earlier. WellPoint, the parent of Blue Cross of California, said it did well by keeping its premiums in line with rising medical costs. WellPoint's medical membership grew about 2.8% to 6.91 million from 6.73 million.
July 31, 1998 |
* WellPoint Health Networks Inc. said it will sell its money-losing workers' compensation unit and write off an investment in bankrupt FPA Medical Management Inc., taking charges of $108.6 million that resulted in a second-quarter loss. Woodland Hills-based WellPoint, California's second-largest health insurer, said it will sell Unicare Specialty Services Inc. to Fremont General Corp., an insurer and financial services company based in Santa Monica, for about $100 million.
July 9, 1998 |
WellPoint Health Networks Inc.'s Blue Cross of California unit and hospital operator Catholic Healthcare West settled a contract dispute over rate increases by signing a multiyear contract, Catholic Healthcare said. The two sides agreed on the contract after Catholic Healthcare West ran advertisements in major California papers saying Blue Cross' 4.4 million members could no longer be served at 30 hospitals it operates in California following expiration of their contract Tuesday.
June 2, 1998 |
WellPoint Health Networks Inc. is facing opposition from some doctors and hospitals about what they say are insufficient reimbursement rates paid by the managed-care company. Sutter Health, which operates hospitals in Sacramento, has already moved to sever ties with Woodland Hills-based WellPoint, a licensee of the national Blue Cross & Blue Shield Assn. Some other Sacramento systems say the rates paid by the company aren't covering costs.