BRIEFLY.Byline: The Register-Guard PacificSource intends to buy Portland health benefits firm SPRINGFIELD - PacificSource Health Plans, the Springfield-based health insurer, on Tuesday said it has signed a letter of intent to buy Select Benefit Administrators Inc. of Portland, a firm that helps employers who opt to self-fund their employee health benefits. The transaction is expected to close in mid-October 2003. A purchase price was not disclosed, PacificSource spokesperson Colleen col·leen n. An Irish girl. [Irish Gaelic cailín, diminutive of caile, girl, from Old Irish. Thompson said. Select Benefit's 10 employees will remain based in Portland, Thompson said. The purchase expands the services of both companies, PacificSource CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ken Provencher said. "PacificSource is completing its goal of diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. so we can be a one-stop health plan provider for Oregon businesses of all sizes," he said. Earlier this year, PacificSource bought benefits administrator Manley Administrative Services of Coburg, which specializes in flexible spending account flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are and health reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. arrangement. PacificSource last week opened its new headquarters in Springfield's Gateway industrial park, where the firm has 200 employees. Credit union shortens its name to Oregon Metro after merger SPRINGFIELD - Oregon Metro Federal Credit Union has a new name. It's now called Oregon Metro - branch of First Tech Credit Union. Eighty three percent of Oregon Metro members who responded by mail or at a meeting last Thursday voted to merge with Beaverton-based First Tech Credit Union, Oregon Union is a city in Union County, Oregon, United States. The population was 1,926 at the 2000 census. History At one point Union was the county seat, but when the freeway was built it was put through La Grande instead of Union. Metro said Tuesday. The merger plan, announced Aug. 21, makes Springfield-based Oregon Metro part of First Tech, the state's second-largest credit union. Oregon Metro's board of directors recommended the merger, partly because the credit union couldn't afford some of the latest banking services to attract depositors. Paul Bauer, a member of Oregon Metro's board, will join First Tech's nine-member board. Oregon Metro's President and Chief Executive Gene Pelham Noun 1. Pelham - a bit with a bar mouthpiece that is designed to combine a curb and snaffle bit - piece of metal held in horse's mouth by reins and used to control the horse while riding; "the horse was not accustomed to a bit" will run the four Oregon Metro branches with the title of president. - From Register-Guard and news service reports |
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