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October 31, 2006
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MHMR Oct. 31, 2006; Volume 14, Number 18
United apologizes to investors...Health Net CFO Piszel resigns...CVS, Caremark to merger...3Q06 MCO Financials...Stocks mixed on 3Q06 results...3Q06 financials: Aetna, Amerigroup, Cigna, Centene, Coventry, Humana, Sierra, UnitedHealth, WellPoint...Chart: MCO 3Q06 financials...’07 rates up 7.7%, Hewitt says...Best upgrade Coventry...Aetna renews with HCA in FL...MCO stocks rise 6%...Services stocks rise 2%...Express Scripts on AWP fallout...and more...
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UNITED ISSUES APOLOGY TO INVESTORS
UnitedHealth Group (Minnetonka, MN) issued an apology to investors last week for the stock options scandal that resulted in the ouster of top executive William McGuire, M.D.
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PISZEL RESIGNS AS CFO OF HEALTH NET
Anthony “Buddy” Piszel has resigned as chief financial officer of Health Net (Woodland Hills, CA) to accept a position as CFO of Freddie Mac (McLean, VA), Health Net announced. James Woys, Health Net’s president of government and specialty services, will serve as acting CFO.
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MCO STOCKS MIXED ON 3Q06 FINANCIALS
Several top managed care plans have reported solid third-quarter profits and a strong outlook for 2007 over the past few weeks. But stocks are mixed as Wall Street remains concerned about the industry’s long-term prospects.
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A.M. BEST UPGRADES COVENTRY
A.M. Best (Oldwick, NJ) has upgraded the financial strength ratings of several units of Coventry Health Care (Bethesda, MD), even as it cited concerns over membership losses at two Pennsylvania subsidiaries.
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