HEALTH CARE
From Times Staff and Wire Reports
Wellpoint to Purchase Unicare: In the third such pairing in California since April, a large health maintenance organization is buying a workers’ compensation insurance company. Wellpoint Health Networks Inc., California’s largest for-profit HMO, said it will purchase Irvine-based Unicare Financial Corp. for about $154 million. The new company will operate under the Unicare name. Unicare, with 1992 revenue of $146 million, employs about 325 people in the Southland. It said no jobs will be lost. Unicare’s stock soared almost 40%, or $7.875, to close at $27.625 in trading on the NYSE. Wellpoint’s stock dipped, losing 25 cents a share to close at $26.25 on the NYSE.
