TAMUNING Guam and LOWER BASE Saipan — Tan Holdings Corp. and a management group from PacifiCare Asia Pacific are close to concluding a deal to acquire PacifiCare’s clinics in Guam and Saipan.
Sources said the deal with the health maintenance organization will split the clinics out from the insurance side of the business which will continue as a medical insurance company. This has been a goal of PacifiCare since it acquired the HMO on Guam known as FHP Inc.
An important meeting to further the deal was scheduled for June 10.
Family Health Plan introduced the first group practice prepayment medical program to Guam in 1973 at the request of the Catholic Diocese of Guam and the government of Guam and in 1988 opened the FHP Medical Center on Saipan with about 2 000 members. FHP AsiaPacific changed its name to PacifiCare Asia Pacific in 1998 and in 2001 incorporated on Guam.
PacifiCare invested in a joint venture with local doctors in 2001 to form Guam Surgi-Center. PacifiCare services include a health center dental center a home health service a durable medical equipment store and a vision center. Its member services and administrative offices are located in the Baltej Pavilion.
PacifiCare offers comprehensive medical and dental insurance to thousands of members on Guam and Saipan. In 2000 PacifiCare had 52 000 members.
In the 2004 Guam Business/Deloitte & Touche Top 50 Companies in Micronesia in the fourth quarter issue of the magazine PacifiCare Health Insurance Co. of Micronesia which does business as PacifiCare Asia Pacific reported sales of $72.88 million and $73.45 million in sales for 2003.
A network of more than 100 health-care providers exist on Guam and Saipan and an expanded network of specialists is located in the Philippines Hawaii and the U.S.
Executives from Tan Holdings and PacifiCare said they were bound by a confidentiality agreement and asked the Journal to wait for a press release.MBJ