Foundation Health Corp. said it has launched several major expansions.
The Rancho Cordova, Calif.-based HMO has received approval to begin operations in Texas. Its London-based subsidiary, Foundation Health Unlimited, also has received approval to offer managed-care coverage in the United Kingdom.
Foundation will begin marketing its networks of 800 physicians and seven hospitals in Austin and San Antonio, Texas, by Oct. 1. Besides an HMO, it will offer PPOs and term life coverage. Foundation now does business with the military's Civilian Health and Medical Program of the Uniformed Services in the Austin area. Its services include an HMO, a PPO and an indemnity plan.
The company has assembled the first provider network offering a PPO to corporations to cover their British employees. Foundation initially will offer its product beginning this month in Manchester, the West Midlands and the Home Counties, with London to be added soon after.
Foundation, with 551,000 HMO enrollees in California and Louisiana, also has applied to establish HMOs in Alabama, Florida and Oklahoma as part of a strategy to participate in markets that are underpenetrated by managed care.
The company reported revenues of $1.7 billion for the fiscal year ended June 30.