Foundation Health Picks Up Its Bed And Walks
The past nine months have brought a terrific recovery at Foundation Health, a provider of managed care to more than 3.4 million people. After losing a massive federal contract for Hawaii and California last July that had accounted for about 40% of its revenues, Foundation's stock plummeted from 35 to 18 in a matter of days. But Chairman and CEO Daniel Crowley pushed to broaden the company's nongovernment business of providing one-stop health-care shopping. Result: Profits have surged, and the stock has soared to 41.
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