01.05.2008 11:00:00
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Humana Completes Acquisition of UnitedHealth Group's Individual Medicare Advantage Business in Las Vegas
Humana Inc. (NYSE: HUM) today announced it has completed the purchase of
the Medicare Advantage contract and related assets associated with the
Las Vegas, Nevada individual SecureHorizons Medicare Advantage HMO
business of UnitedHealth Group (NYSE: UNH). The transaction had
previously been approved by the Department of Justice and received final
regulatory approvals from the Centers for Medicare and Medicaid
Services, the Nevada Division of Insurance and the Kentucky Office of
Insurance.
The transaction increases Humana’s Medicare
Advantage HMO membership by approximately 26,700 with members primarily
residing in Clark and Nye counties in Nevada. Nearly 70 percent of Nevada’s
Medicare eligible recipients are located in these two counties.
Humana and UnitedHealth Group have been working to ensure a seamless
transition of this Medicare business and have begun communications to
affected members. Humana and UnitedHealth Group emphasized that members
will continue to see the same health care providers and receive the same
benefits they currently have, and there will be no interruption in their
health care coverage.
"These new members gain access to a broad
array of Humana’s innovative, healthy
lifestyle programs and industry-leading consumer tools,”
said Rob Hitchcock, Vice President, Western Division for Humana. "We
welcome them and look forward to servicing their health care needs
through actionable information and guidance.”
As previously disclosed, the transaction price of approximately $185
million in cash consideration is expected to be financed through a
combination of cash and debt. Humana further commented that the
transaction is not expected to significantly impact its guidance for
2008 diluted earnings per common share.
Humana Cautionary Statement
This news release contains statements that are forward-looking. The
forward-looking statements herein are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking items may be significantly impacted by certain risks and
uncertainties described in the company’s Form
10-K for the year ended December 31, 2007, Form 10-Q for the quarter
ended March 31, 2008 and Form 8-Ks for 2008, as filed with the
Securities and Exchange Commission.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation’s
largest publicly traded health and supplemental benefits companies, with
approximately 11.4 million medical members. Humana is a full-service
benefits solutions company, offering a wide array of health and
supplemental benefit plans for employer groups, government programs and
individuals.
Over its 47-year history, Humana has consistently seized opportunities
to meet changing customer needs. Today, the company is a leader in
consumer engagement, providing guidance that leads to lower costs and a
better health plan experience throughout its diversified customer
portfolio.
More information regarding Humana is available to investors via the
Investor Relations page of the company’s web
site at www.humana.com,
including copies of:
Annual reports to stockholders
Securities and Exchange Commission filings
Most recent investor conference presentations
Quarterly earnings news releases
Replay of most recent earnings release conference calls
Calendar of events (includes upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors)
Corporate Governance information
About UnitedHealth Group
UnitedHealth Group is a diversified health and well-being company
dedicated to making health care work better. Headquartered in
Minneapolis, Minnesota, UnitedHealth Group offers a broad spectrum of
products and services through seven operating businesses:
UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix,
and Prescription Solutions. Through its family of businesses,
UnitedHealth Group serves more than 70 million individuals nationwide.
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Aktien in diesem Artikel
Humana Inc. | 280,50 | -0,14% |
Indizes in diesem Artikel
S&P 500 | 5 998,74 | -0,38% |