HEALTH CARE
<i> Times Staff and Wire Reports</i>
WellPoint Seeks Ruling on Acquisition: WellPoint Health Networks Inc. demanded a state ruling on its proposed acquisition of Health Systems International Inc. by Aug. 22, dismissing “serious concerns” raised by California regulators as untrue or already settled. The merger, which would create the largest publicly held U.S. managed-health-care company, is valued at about $1.9 billion in stock before a recapitalization that would pay about $1.2 billion to WellPoint shareholders. WellPoint’s move comes a day after state regulators questioned the way Blue Cross of California, which owns 80% of WellPoint’s stock, has structured control of a health care foundation that it would fund with almost $3 billion.
