PacifiCare Health Systems Inc.: The Cypress managed...

PacifiCare Health Systems Inc.: The Cypress managed health-care service company on Friday announced a public offering of 4.5 million shares of Class B common stock priced at $68 each. The company said it will issue and sell 3 million shares, and 1.5 million will be sold by UniHealth, PacifiCare’s largest shareholder. Delivery of the shares is scheduled for Thursday. The net proceeds received by PacifiCare will be used to repay amounts outstanding under its revolving line of credit, to increase working capital and for general corporate purposes, including acquisitions, the company said.