HEALTH
- Share via
* Foundation Health Systems Inc. said it will take a $50-million charge in the second quarter on property leased to FPA Medical Management Inc., which sought bankruptcy protection last month. Foundation, one of the largest managed health-care companies in California, said profit before the charge will match the 26 cents a diluted share forecast in a survey by First Call Corp. San Diego-based FPA, a manager of doctors’ practices, filed for reorganization after a cash crunch left it unable to pay doctors and suppliers. Foundation Health Corp., one of the companies that formed the current Foundation Health, sold some doctors’ groups to FPA in 1996 while retaining ownership of related medical clinics, which it leased to FPA. Woodland Hills-based Foundation said it will report second-quarter earnings Tuesday. Foundation shares rose $1.44 to close at $19.31 on the New York Stock Exchange.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.