Commissioner of Corporations issues statement on the acquisition of FHP International Corp. by PacifiCare Health Systems Inc.LOS ANGELES--(BW HealthWire)--Feb. 14, 1997--The Commissioner of the California Department of Corporations Keith Paul Bishop You may also be looking for Paul Bishop (actor) Paul Bishop is an author. He currently lives in Los Angeles, California. He worked on the Los Angeles Police Department before becoming a writer. , Friday announced state approval for the acquisition of FHP fhp or f.hp. abbr. friction horsepower International Corp. by 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., and issued the following statement: "Today I am announcing state approval for the acquisition of FHP International Corporation by PacifiCare Health Systems Inc. In making this decision the department took unprecedented steps to ensure that health care consumers are protected. "The department's approval comes after nearly five months of intensive legal and factual review of the proposed transaction. The focus of the review has been to assure that the plans will continue to meet legal requirements governing accessibility to care, continuity of care, quality of care and financial solvency. In addition the department held public hearings at which over 50 witnesses were able to express their views. "In approving the transaction, the department obtained a number of undertakings from the plans. The undertakings ensure that enrollees will be protected by maintaining accessibility and continuity of care, the financial solvency of the plans and the strength of the doctor-patient relationship doctor-patient relationship, n in-teraction between a physician and a patient. . "Pursuant to these undertakings, the plans without the department's approval may not make any changes to any aspect of their operations, including but not limited to: -- Quality assurance, -- Utilization management Utilization management is the evaluation of the appropriateness, medical need and efficiency of health care services procedures and facilities according to established criteria or guidelines and under the provisions of an applicable health benefits plan. , -- Member services and the processing of grievances, -- Provider contracts, -- Provider networks, -- Senior management, "In addition, no authorizations will be required in order for plan members to continue coverage for medications previously prescribed by their FHP or PacifiCare physicians. It is the department's position that consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of a financial transaction between health care organizations should in no way negatively impact enrollees. "I want to emphasize that this is only the first step in a lengthy approval process that will involve an even more detailed review by the department. Although FHP and PacifiCare may now come under common ownership, their respective health care plans may not consolidate operations without the department's prior approval. "The department will not approve consolidation unless it is satisfied that enrollees will continue to receive access to quality medical care in a manner that assures continuity of care, and that physicians will determine the patient's health care needs." The Department of Corporations is a regulatory and licensing agency which reports to the Business, Transportation and Housing Agency, and to Governor Pete Wilson For others named Pete Wilson, see . Peter Barton Wilson (born August 23, 1933) is an American Republican politician from California. Wilson served as the thirty-sixth Governor of California (1991–1999), the culmination of more than three decades in the public arena that . CONTACT: Department of Corporations Brian A. Thompson, 213/736-3481 fax, 213/736-3588 or Julie Stewart Julie A. Stewart is a Canadian actress. Julie Stewart studied acting in Montreal at the National Theatre School of Canada and now makes her home in Toronto. She was the star of the Canadian television series Cold Squad. , 916/323-5485 fax, 916/323-5440 |
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