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FHP of Colorado signs 10-year lease for Banner Building, to be renamed the FHP Building; Colorado's largest HMO to consolidate Denver-metro operations to better serve its members.

AURORA, Colo.--(BUSINESS WIRE)--Feb. 10, 1995--FHP of Colorado, the state's largest HMO, today announced the company has signed a 10-year lease for approximately 125,000 square feet of space in the Banner Building, located at 6455 South Yosemite Street in Greenwood Village.

FHP will consolidate its Denver-metro administrative offices in the building that will be renamed the FHP Building. The new offices will also serve as the Eastern Division headquarters for FHP of Colorado's parent company, FHP International. The need for additional space resulted from a series of mergers which ultimately united FHP with TakeCare, Inc. (formerly TakeCare and Comprecare, in Colorado). The move is planned for July 1995.

"We believe our new centralized location will enhance our ability to give our members, employers and providers outstanding customer service," said Steve O'Dell, president of FHP of Colorado.

Initially, FHP will move into 117,000 square feet of the building, occupying floors one through six. The facility will provide the space needed to accommodate and unify FHP's Denver-metro and Eastern Division operations which currently have office space in Aurora and the Denver Tech Center. FHP's Eastern Division, headed up by former Comprecare Chief Executive Officer Eric D. Sipf, oversees operations in Colorado, Texas, Illinois and Ohio.

Renovations planned for the site include a newly remodeled lobby, additional outdoor landscaping and a new parking structure. Integrated Property Management will manage the property.

FHP of Colorado provides health care to more than 325,000 Coloradans throughout the Front Range, making it Colorado's largest HMO company. FHP is a diversified managed health care services company headquartered in Fountain Valley, Calif. Through its HMOs, FHP serves members in California, Arizona, Utah, New Mexico, Nevada, Colorado, Texas, Illinois, Ohio, and the territory of Guam. Other FHP subsidiaries offer indemnity health and life insurance, a national HMO network and workers' compensation insurance. FHP is one of the largest providers of HMO services to Medicare beneficiaries in the United States.

CONTACT: Laura Wegscheid, 303/368-3664

Kate Varden, 303/623-3366
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Publication:Business Wire
Date:Feb 10, 1995
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