|
|
|
| 
Managed Care Companies
|
COVENTRY, RITE AID TO FORM PART D OUTREACH EFFORT
Coventry Health Care (Bethesda, MD) and Rite Aid Corp. (Camp Hill, PA) announced an agreement to jointly coordinate community outreach and education activities for Medicare Part D eligibles beginning in the fourth quarter of 2005. The program will include in-store experts to help Rite Aid customers understand their Part D options.
|
|
WELLCHOICE WINS SUIT OVER FOR-PROFIT CONVERSION
It took three years, but WellChoice Inc. (New York) has finally emerged victorious in a lawsuit brought by the Consumers Union (New York) over the use of funds from the for -profit conversion of its primary operating unit Empire Blue Cross Blue Shield.
|
|
MOLINA NAMES BRACCIODIETA CHIEF MEDICAL OFFICER
Molina Healthcare Inc. (Long Beach, CA) has named William Bracciodieta, M.D., executive vice president and chief medical officer. He was most recently chief medical officer of Health Net (Woodland Hills, CA).
|
|
HUMANA TO REAFFIRM 2005 EARNINGS OUTLOOK
Humana Inc. (Louisville, KY) said it expects to reaffirm its previously announced 2005 earnings projection of $2.23 to $2.25 per share ($365.7 million to $369 million based on 164 million diluted shares).
|
|
BEST AFFIRMS UNITEDHEALTH DEBT RATINGS
A. M. Best (Oldwick, NJ) said it had affirmed the debt ratings of all UnitedHealth subsidiaries, citing the company’s good capital position, solid earnings and strong operating cash flow.
|
|
MCO STOCKS TROUNCE BROADER MARKET—ONCE AGAIN
Shares in leading managed care organizations continued to beat the broader stock market, with 14 publicly traded companies delivering a 17% total return through the first six months of 2005.
|
|
UNITED TO ACQUIRE NEIGHBORHOOD HEALTH
UnitedHealth Group (Minnetonka, MN) announced an agreement to acquire Neighborhood Health Partnership (Miami), which serves about 135,000 members mostly in Dade County, FL, but also in Broward and Palm Beach counties.
|
|
HEALTH NET STUNG BY $117 MM JURY AWARD
Health Net (Woodland Hills, CA) was hit with a $117.4 million jury verdict in a lawsuit brought by receivers who in 2002 had taken control of three bankrupt health plans in Texas, Oklahoma and Louisiana.
|
|
AETNA TO BUY HMS FOR $390 MILLION
Aetna Inc. (Hartford, CT) has dramatically expanded its PPO presence in Michigan and Colorado through the acquisition of HMS Healthcare (Denver) for $390 million in cash.
|
|
|
|
