PacifiCare Signs Deals
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CYPRESS — PacifiCare Health Systems Inc. said Thursday it has signed a long-term license agreement for the nonprofit Presbyterian Healthcare Services to operate Secure Horizons, PacifiCare’s Medicare risk-health maintenance organization, in the New Mexico market.
PacifiCare said Presbyterian Healthcare also will acquire the 58,000 commercial and Medicare members of FHP of New Mexico, PacifiCare’s New Mexico health plan. Terms weren’t disclosed.
As part of the license agreement, Presbyterian will own and operate Secure Horizons in New Mexico. PacifiCare will provide a variety of services, including marketing and sales, regulatory compliance and helping develop a provider network.
PacifiCare expects the transaction, which is subject to regulatory approvals, to close in late summer or early fall.
Presbyterian Healthcare owns and operates 11 hospitals and a managed-care plan covering 155,000 lives.
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