Aging & Elder Health Week
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Mergers & Acquisitions
Humana to acquire CarePlus Health Plans of Florida
January 9th, 2005
Humana Inc. (HUM) has signed definitive agreements to acquire CarePlus Health Plans of Florida as well as its 10 CAC-Florida Medical Centers and PrescribIT Rx pharmacy management company in Miami-Dade County. CarePlus provides Medicare Advantage HMO plans and benefits to nearly 50,000 Medicare eligibles in Miami-Dade, Broward, and Palm Beach counties. Total consideration will be approximately $408 million plus the amount of excess statutory surplus acquired with the plan at the closing date. The transaction will be financed through a combination of line-of-credit borrowings and cash on hand, with line-of-credit borrowings...
Source: Aging & Elder Health Week (2005-01-09)
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