HMO mergers in California...Health Net grows...BD
Foundation Health Systems, Inc. (NYSE:FHS) today announced it has received final regulatory approval to merge its two California HMO subsidiaries, Foundation Health, a California Health Plan, and Health Net, into Health Net, which will be the name of the continuing company.
Health Net now will serve more than 2.1 million members in 50 counties in California, giving it one of the broadest geographic areas of any health plan in the state. For the second year in a row, Health Net has received one year accreditation from the National Committee for Quality Assurance, a non-profit, independent oversight organization for the managed care industry. Health Net’s parent company, Foundation Health Systems, Inc., is the nation’s fourth-largest publicly traded managed health care company.
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