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Managed Care Companies
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PEOPLE: TOUGH; BRENNAN
Health Net (Woodland Hills, CA) has named Steve Tough president of its Health Net Federal Services division.
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MOLINA TO ACQUIRE CAPE HEALTH PLAN
Molina Healthcare (Long Beach, CA) announced it has signed a definitive agreement to acquire HCLB Inc. (Troy, MI), the parent company of Cape Health Plan (Southfield, MI).
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WELLPOINT 4Q05 NET JUMPS ON 8.5% MEDICAL COST TREND
Citing a rolling 12-month medical cost trend of less than 8.5% in 2005, WellPoint Inc. (Indianapolis) reported fourth-quarter 2005 net income of $652 million, up 253%, on revenues of $11.432 billion, up 68%.
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UNITEDHEALTH EYES 3% ’06 PART D OPERATING MARGIN
UnitedHealth Group (Minnetonka, MN) said it projects operating earnings of $150 million to $160 million on revenues of $5 billion from its Medicare Part D drug business, representing an operating margin of 3.1%.
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UNITEDHEALTH RAISES ‘06 PROFIT OUTLOOK
UnitedHealth Group (Minnetonka, MN) raised its full-year 2006 earnings projection to between $2.85 and $2.90 per share ($3.7 billion to $3.8 billion based on 1.3 billion diluted shares), a 21% to 23% increase over 2005 results.
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