 | |
| Industry | Health insurance |
|---|---|
| Founded | 1983 |
| Founder | Samuel J. Tibbitts |
| Defunct | December 21, 2005 |
| Fate | Acquired by UnitedHealth Group |
| Headquarters | Cypress, California |
Number of employees | 7,500 |
PacifiCare Health Systems, Inc. was a provider of health insurance based in Cypress, California. It was acquired by UnitedHealth Group in 2005.
History
[edit]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
[edit]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]
References
[edit]- ^ Shinkman, Ron (February 3, 1997). "HEALTH CARE HALL OF FAME: AN INDUSTRY VISIONARY: SAMUEL J. TIBBITTS BOOSTED EFFICIENCY AT NOT-FOR-PROFITS, PIONEERED FOR-PROFITS". Modern Healthcare.
- ^ "PACIFICARE HEALTH SYSTEMS History: Founding, Timeline, and Milestones - Zippia". www.zippia.com. 2020-08-27. Retrieved 2024-07-25.
- ^ "REPORT OF FINANCIAL EXAMINATION OF UNITEDHEALTHCARE OF OREGON, INC. LAKE OSWEGO, OREGON" (PDF). Oregon. December 31, 2014.
- ^ GOMEZ, JAMES M. (February 12, 1993). "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". Los Angeles Times.
- ^ GOMEZ, JAMES M. (October 12, 1993). "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". Los Angeles Times.
- ^ Zuckerman, Laurence (August 6, 1996). "Pacificare Will Buy FHP, Its Health Care Rival". The New York Times.
- ^ "UnitedHealth Group Completes Merger with PacifiCare Health Systems, Inc" (Press release). Business Wire. December 21, 2005.
- ^ FREUDENHEIM, Milt (July 7, 2005). "UnitedHealth to Buy PacifiCare in Push Into Medicare". The New York Times.
- ^ "Letter from UHC" (PDF). March 21, 2011.
- ^ "PacifiCare Back with NHR for 2004 Champ Car World Series". Motor Sport. March 10, 2004.
- ^ "Sponsor woes for Champ Car?". AutoRacing1.com. 2006-03-24. Retrieved 2024-07-25.