PacifiCare Health Systems explained
PacifiCare Health Systems, Inc. was a provider of health insurance based in Cypress, California. It was acquired by UnitedHealth Group in 2005.
History
The predecessor of the company was founded in 1978 by Samuel J. Tibbitts as a subsidiary of the Lutheran Hospital Society of Southern California.[1] PacifiCare was incorporated in 1983.[2]
In 1985, PacifiCare of Oregon was created.[3] In 1993, Alan Hoops replaced Terry Hartshorn as president and CEO.[4] The company also acquired Freedom Plan, California Dental Health Plan, and Advantage Health Plans.[5] In 1996, it acquired FHP.[6]
In December 2005, the company was acquired by UnitedHealth Group.[7] At that time, the company had 705,000 Medicare enrollees.[8]
The company continued to market health plans under the PacifiCare and SecureHorizons names until 2011, when it changed to the UnitedHealthcare name.[9]
Sponsorship and philanthropy
The company sponsored Newman/Haas Racing for the 2003 CART season, the 2004 Champ Car season, and the 2005 Champ Car season and donated to support The Painted Turtle.[10] It was replaced as a sponsor in 2006.[11]
Notes and References
- News: HEALTH CARE HALL OF FAME: AN INDUSTRY VISIONARY: SAMUEL J. TIBBITTS BOOSTED EFFICIENCY AT NOT-FOR-PROFITS, PIONEERED FOR-PROFITS . Ron . Shinkman . . February 3, 1997.
- Web site: 2020-08-27 . PACIFICARE HEALTH SYSTEMS History: Founding, Timeline, and Milestones - Zippia . 2024-07-25 . www.zippia.com . en-US.
- Web site: REPORT OF FINANCIAL EXAMINATION OF UNITEDHEALTHCARE OF OREGON, INC. LAKE OSWEGO, OREGON . . December 31, 2014.
- News: Founder of PacifiCare to Retire as Chairman : Management: Samuel J. Tibbitts' successors are two executives who have guided the Cypress firm's recent strong growth. . JAMES M. . GOMEZ . . February 12, 1993 . subscription.
- News: PacifiCare Taking Wider Role as a Provider of Managed Care : Health: Armed with a $100-million 'war chest,' the Cypress-based HMO is making acquisitions to expand its market share. . JAMES M. . GOMEZ . . October 12, 1993 . subscription.
- News: Pacificare Will Buy FHP, Its Health Care Rival . Laurence . Zuckerman . . August 6, 1996 . subscription.
- UnitedHealth Group Completes Merger with PacifiCare Health Systems, Inc. . . December 21, 2005.
- News: UnitedHealth to Buy PacifiCare in Push Into Medicare . Milt . FREUDENHEIM . . July 7, 2005 . subscription.
- Web site: Letter from UHC . March 21, 2011.
- News: PacifiCare Back with NHR for 2004 Champ Car World Series . . March 10, 2004.
- Web site: 2006-03-24 . Sponsor woes for Champ Car? . 2024-07-25 . AutoRacing1.com . en-US.
