Los Angeles-based Maxicare Health Plans Inc., the...
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Los Angeles-based Maxicare Health Plans Inc., the nation’s largest publically held HMO, reported a 158% rise in revenue for the first quarter ended March 31. However, the firm posted a loss for the quarter, compared to a profit a year ago. First-quarter results include $13.2 million in pretax expenses for amortization and interest related to the acquisition of Maxicare, a spokesman said. Also, the company is moving forward in its unification efforts and expects to see a reduction in administrative and health-care expenses as the acquired plans are fully integrated into Maxicare, the spokesman added.
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