A.M. Best Places Ratings of PacifiCare Health Systems Inc. and Its Subsidiaries Under Review with Positive Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the debt ratings of PacifiCare Health Systems PacifiCare Health Systems (former NYSE: PHS) was a Fortune 500 healthcare company based in Cypress, California. It was acquired by UnitedHealth Group (NYSE: UNH) in late 2005, which continues to market health plans under the PacifiCare name. , Inc. (PacifiCare) (NYSE NYSE See: New York Stock Exchange : PHS (Personal Handyphone System) A TDMA-based cellular phone system introduced in Japan in mid-1995. Operating in the 1880-1930 MHz band, PHS uses microcells that cover an area only 100 to 500 meters in diameter, resulting in lower equipment costs but requiring more base ) (Cypress, CA) and the financial strength ratings of PacifiCare's subsidiaries under review with positive implications as a result of the proposed acquisition by UnitedHealth Group UnitedHealth Group Incorporated NYSE: UNH is a managed health care company. It is the parent of United Healthcare, one of the largest health insurers in the U.S. It was created in 1977, as UnitedHealthCare Corporation (it renamed itself in 1998), but traces its origin to a Inc. (UnitedHealth) (NYSE: UNH Unh The symbol for the element unnilhexium. ) (Minnetonka, MN). PacifiCare will benefit from a financially-stronger parent. UnitedHealth's superior financial strength and excellent credit-worthiness will strengthen PacifiCare's financial position, providing more than sufficient support to PacifiCare's subsidiaries. The proposed transaction, valued at $9.1 billion, is expected to be structured as a combination of cash and stock. The transaction is expected to close in early 2006, subject to regulatory and shareholder approval. For a complete list of PacifiCare Health Systems, Inc.'s financial strength, issuer credit and debt ratings, please visit http://www.ambest.com/press/070802pacificare.pdf. For Best's Debt Ratings, all other Best's Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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