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Humana Inc.
Humana Completes Acquisition of Metcare Health Plans, Inc.
September 21st, 2008
Humana Inc. (NYSE: HUM) announced it has completed the purchase of Metcare Health Plans, Inc. ("MHP"), a wholly owned subsidiary of Metropolitan Health Networks, Inc. ("Metropolitan") (AMEX: MDF) - based in West Palm Beach, Florida - for approximately $14 million. The transaction has received regulatory approvals from the Florida Office of Insurance Regulation and the Centers for Medicare and Medicaid Services. AdvantageCare, the Medicare Advantage health plan offered by MHP, provides Medicare beneficiaries with access to comprehensive health care coverage in Florida. The acquisition increases Humana's Medicare Advantage membership by approximately 7,300 members in the...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-21)
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