Advertisement
 
YOU ARE HERE: LAT HomeCollectionsWellpoint Health Networks Inc
IN THE NEWS

Wellpoint Health Networks Inc

BUSINESS
July 30, 1999 | Bloomberg News
WellPoint Health Networks Inc., one of California's biggest health insurers, offered to pay $266 million to buy Rocky Mountain Hospital & Medical Service Inc., the parent of Blue Cross Blue Shield of Colorado & Nevada. The offer includes $150 million that would be spent for charitable uses as part of the nonprofit Rocky Mountain's conversion to a for-profit company. An additional $16 million would go to Anthem Inc.
Advertisement
BUSINESS
August 1, 1995
WellPoint Health Networks Inc., a Woodland Hills-based managed health care company, reported 11% increases in profit and membership for the second quarter that ended June 30. The company posted earnings of $55.4 million for the second quarter, compared to $49.7 million in the same three-month period a year earlier. Revenues rose to $788 million, up 13% from $695 million in the second quarter of 1994. Membership in the company's health maintenance organization and other health plans totaled 2.
BUSINESS
June 15, 2004 | From Bloomberg News and Associated Press
The California Public Employees' Retirement System, the biggest U.S. pension fund, on Monday objected to Anthem Inc.'s proposed acquisition of WellPoint Health Networks Inc. because it includes "excessive pay packages" for WellPoint executives.
BUSINESS
November 13, 2004 | Lisa Girion, Times Staff Writer
Georgia's insurance commissioner has rebuffed Anthem Inc.'s proposed $18.4-billion acquisition of Thousand Oaks-based WellPoint Health Networks Inc., but the regulator is still talking to Anthem about what it would take to win his approval. The deal would create the nation's largest health insurance company.
BUSINESS
July 26, 2001 | From Bloomberg News
Managed-care company WellPoint Health Networks Inc. said Wednesday that second-quarter profit rose 19% as it added customers and raised premiums to stay ahead of increasing medical costs. Net income rose to $99.9 million, or $1.53 a share, from $83.7 million, or $1.30, a year earlier, beating estimates, the company announced after U.S. markets closed. Revenue rose 37% to $3.15 billion.
BUSINESS
February 28, 2004 | From Bloomberg News
Anthem Inc. on Friday won government antitrust approval to buy Thousand Oaks-based WellPoint Health Networks Inc. for $16.4 billion and become the largest U.S. health insurer. The Federal Trade Commission closed its antitrust investigation of the combination. The companies have not scheduled shareholder votes to approve the transaction. The takeover will give Anthem almost 1 in 3 members of Blue Cross plans, which cover about one-third of all Americans.
BUSINESS
July 10, 1998 | From Bloomberg News
WellPoint Health Networks Inc. said Thursday that it will buy Cerulean Cos., Georgia's largest health insurer, for about $500 million in stock and cash. Cerulean, which is converting from a nonprofit, private organization to a for-profit company, is the parent of Blue Cross & Blue Shield of Georgia and has about 1.7 million members. WellPoint, one of the largest managed-care companies in California, is the parent of Blue Cross of California.
BUSINESS
October 3, 2003 | From Associated Press
WellPoint Health Networks Inc., the nation's second-largest private health insurer, said Thursday that it would not reimburse people who use AstraZeneca's new cholesterol drug, Crestor, because of concerns over its safety. The Food and Drug Administration approved Crestor in August after a long debate about the risk of side effects. The approval came with warnings about rare cases of a potentially fatal muscle-destroying condition that affects the kidneys called rhabdomyolysis.
BUSINESS
July 28, 2005 | Debora Vrana, Times Staff Writer
Profit at WellPoint Inc., the largest U.S. health insurer, more than doubled in the second quarter as the company cut costs, added members and raised premiums, the Indianapolis-based firm said Wednesday. The company was created in November when Anthem Inc. bought Thousand Oaks-based WellPoint Health Networks Inc., which operates Blue Cross of California, and took its name. The combined company runs health plans across the country, including Blue Cross and Blue Shield coverage in 13 states.
BUSINESS
February 12, 2002 | From Bloomberg News
WellPoint Health Networks Inc., one of California's biggest health insurers, said fourth-quarter profit rose 23%, beating estimates, as the firm added customers and raised premiums. Net income rose to $109.9 million, or $1.65 a share, from $89.5 million, or $1.37 a share, a year earlier, WellPoint said in a news release. Revenue rose 40% to $3.42 billion from $2.44 billion.
Los Angeles Times Articles
|