PacifiCare Health Systems Subsidiary Acquires Benefit Management Firm
A subsidiary of PacifiCare Health Systems said Wednesday it has completed its acquisition of Preferred Solutions, a pharmacy benefit management company based in San Jose. management and claims processing for Cypress-based PacifiCare and other health maintenance organizations. PacifiCare did not reveal terms of the acquisition except to say that it will increase the number of Prescription Solutions’ clients by about 30% and its revenue by about 6%.
Debi Reissman, president of Prescription Solutions, said the main reason for the acquisition was to broaden the range of services the company provides. Increasing revenue, she said, was a secondary concern.