Blue Cross Completes Sale of Takecare HMO

Blue Cross of California has completed its sale of Takecare, a 10-year-old health maintenance organization. Blue Cross, based in Woodland Hills, sold Takecare for an undisclosed price to an investor group led by Jack Anderson and Richard Burdge. Previous reports have placed the price at $40 million to $45 million.

Anderson was an executive of Hospital Affiliates International and Republic Health Corp. Burdge was an executive at CIGNA, a large publicly held insurer, and was president of the American Stock Exchange from 1972 to 1977.

Takecare, which is based in Oakland, has about 185,000 members.