PacifiCare Sale Done
CYPRESS —
PacifiCare Health Systems Inc. said Thursday it has completed the sale of its struggling Florida health plan to Michigan-based Total Health Care Inc. Terms were not disclosed.
Florida regulators still must approve the transaction.
PacifiCare said it is concentrating on new markets from its acquisition of Orange County competitor FHP International. The Florida operations, which served about 30,000 members in eight counties, lost $20 million in the year ended Sept. 30. Market leaders Humana Inc. and United HealthCare Corp. each have about 300,000 members in the state.
Through the FHP acquisition, PacifiCare will add members in nine states, mainly in the West and Midwest.
