FPA to Buy Health Partners for $115 Million

FPA Medical Management Inc. agreed to buy closely held Health Partners Inc. for $115 million in stock, a move that would give FPA physician practices in several new states, including Ohio, Kentucky and Virginia, and the District of Columbia. It would also bolster FPA’s presence in New Jersey, New York and Texas, the company said. Norwalk, Conn.-based Health Partners is a physician-practice management company with a network of 418 doctors. Such companies manage doctors’ back-office operations and represent them in negotiations. San Diego-based FPA shares rose $2 to close at $25.875 on Nasdaq. In addition, FPA said it entered into a 10-year agreement with Oxford Health Plans Inc. to provide physician services to Oxford’s members.