LOS ANGELES--(BUSINESS WIRE)--May 3, 2005--Health Net, Inc. (NYSE:HNT) today announced it has reached a settlement with approximately 900,000 physicians across the nation thus ending various class action lawsuits brought by physicians, the first of which was filed in September 1999. The settlement, the third among the managed care companies involved in this Multi District Litigation (MDL), includes Health Net’s commitment to institute a number of business practice changes that will benefit physicians and strengthen Health Net’s physician relationships. “This will allow us to continue to enhance our working relationship with the physicians who serve our members. It will put a potentially contentious matter behind us. As part of the settlement, Health Net has already begun to implement a number of new business practices that will improve health plan/physician relationships and contribute to improvements in our operations,” said Jay Gellert, president and chief executive officer of Health Net.
