Harvard Pilgrim eyes bailout building deal.

From: The Boston Herald | Date: December 3, 1999| Author: Convey, Jennifer Heldt Powell And Eric | Copyright information

Financially embattled Harvard Pilgrim Health Care Inc., seeking to bolster its cash holdings, wants a quasi-public state agency to provide up to $120 million through an unusual real estate deal.

The state's biggest health maintenance organization - with 1.5 million members - is asking an affiliate of the Massachusetts Health and Educational Facilities Authority to buy seven buildings occupied by Harvard Vanguard health centers, then lease them back to the HMO for 30 year...

Related newspaper, magazine, and journal articles from HighBeam Research

Harvard Pilgrim eyes bailout building deal.
The Boston Herald ; Financially embattled Harvard Pilgrim Health Care Inc., seeking to bolster its cash holdings, wants a quasi-public state agency to provide up to $120 million through an unusual real estate deal. The state's biggest health maintenance organization - with 1.5 million members - is asking an affiliate
$140M STATE DEAL PLANNED TO AID HMO HARVARD PILGRIM WOULD SELL SITES TO BOND AGENCY, THEN LEASE SPACE
The Boston Globe ; A Cellucci administration financing agency is quietly arranging a highly unusual $140 million deal to help bail out financially reeling Harvard Pilgrim Health Care by purchasing the insurer's real estate and then leasing the facilities back to the firm. The bond deal would be arranged through the
HARVARD PILGRIM LOOKS TO SELL 2 MORE HEALTH CENTERS
The Boston Globe ; Harvard Pilgrim Health Care, the large HMO that last year emerged from state receivership, will try to raise much-needed cash by selling two of its health centers and leasing them back, the plan's executives said yesterday. Harvard Pilgrim, which still is being supervised by state regulators during
Harvard Pilgrim could lose more than just charitable status.
The Boston Herald ; With 1.1 million members, Harvard Pilgrim Health Care is a big HMO. The Brookline-based network is also becoming a big target. Pursuing it: malpractice lawyers intent on proving that Harvard Pilgrim is not a charity. Losing charitable status would cost the health maintenance organization millions
HMO SAID NEAR SALE OF R.I. CENTERS HARVARD PILGRIM OFFICIALS DETAIL SOME PLANS TO HELP MEND FINANCES HMO OFFICIALS DETAIL PLANS TO MEND FINANCES
The Boston Globe ; Harvard Pilgrim Health Care is on the verge of selling its Rhode Island health centers, a move that will help the region's largest health maintenance organization walk away debt-free from its financially troubled Rhode Island business, according to senior executives at the Brookline-based HMO. The