OTHER NEWS - Jan. 19, 1996
Times Staff and Wire Reports
Foundation Health to Acquire Managed Health Network: In a stock swap valued at about $45 million, Foundation Health Corp. of Rancho Cordova, Calif., said it signed an agreement to buy closely held Managed Health Network Inc. of Los Angeles. Foundation Health said it expects the acquisition to have no impact on its fiscal 1996 earnings. Managed Health, with branches in 12 states, provides employee assistance and behavioral health programs to about 350 companies and unions. Foundation Health will combine those with its own behavioral health unit, called Foundation Health PsychCare Services Inc., bringing the number of enrollees to 6 million. Foundation Health stock rose 62.5 cents to close at $41.375 on the New York Stock Exchange.
