The former head of PacifiCare Health Systems will take on the top post at CareMore Medical Enterprises, Downey, Calif., a managed-care plan with 20,000 Medicare beneficiaries in Southern California, under a deal announced by J.P. Morgan Partners and Crystal Cove Partners. Alan Hoops, co-founder and former chairman and chief executive officer at PacifiCare, is a principal in Crystal Cove, which will partner with J.P. Morgan in managing the Medicare plan. J.P. Morgan said it signed a definitive agreement to acquire CareMore for undisclosed terms. Hoops will become the company's chairman and CEO. Sheldon Zinberg, CareMore's founder and current chairman and president, will become chairman emeritus. The deal is expected to close in the first quarter, pending regulatory approval. J.P. Morgan and Crystal Cove said they were seeking a Medicare health plan that could succeed under the Medicare Modernization Act. -- by Cinda Becker
PacifiCare founder to lead Medicare health plan
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