Health Net to acquire Universal Care's Plan assets in California.

Health Net Inc. said it would acquire the health plan assets of Universal Care Inc., a large Medi-Cal plan in Los Angeles County, in a purchase Health Net expects to close during the first half of 2006.

Health Net is among the largest U.S. managed care companies, with its health maintenance organization, point-of-service, insured preferred provider organization and government contract units providing health benefits to about 6.4 million people in 27 states and the District of Columbia through group, individual, Medicare, Medicaid and Tricare programs.

Health Net serves about 700,000 Medi-Cal and Healthy Families beneficiaries in nine California counties, excluding Orange County. As a result of the Universal Care acquisition, Health Net would add about 20,000 Medi-Cal and Healthy Families beneficiaries, with the opportunity to enroll 20,000 more Medi-Cal and Healthy Families beneficiaries in Orange County.