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March 15, 2007
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MHMR March 15, 2007; Volume 15, Number 5
United to acquire Sierra…’07 MCO season opens…CVS-Caremark merger approved…Aetna faces a no-lose situation…Chart: Major acquisitions…United restates profits…BCBS-MI ’06 earnings fall 38%...BCBS-MA ’06 net falls 14%...HMO stocks fall 2.6%...and more…
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UNITED TO PAY $4127 PER LIFE FOR SIERRA
UnitedHealth Group (Minnetonka, MN) has announced a definitive agreement to acquire staff-model HMO Sierra Health Services (Las Vegas) for $43.50 per share or $2.6 billion in cash.
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’07 M&A SEASON OPENS—WHO’S NEXT?
The announcement by UnitedHealth Group (Minnetonka, MN) that it was acquiring Sierra Health Services (Las Vegas) unofficially opens the much-anticipated 2007 managed care merger and acquisition season—with industry observers predicting several more deals before year end.
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CVS GETS APPROVAL TO BUY CAREMARK
CVS Corp (Woonsocket, RI) and Caremark (Nashville, TN) each received the necessary shareholder approval to merge—beating down a hostile takeover bid for Caremark from Express Scripts (St. Louis) and ending a months-long saga.
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UNITEDHEALTH TRIMS 12 YEARS OF PROFITS BY $1.56 BILLION
UnitedHealth Group (Minnetonka, MN) said it has reduced the amount of pretax earnings it had reported over the 12-year period ending Dec. 31, 2005 by $1.56 billion to reflected expenses related to stock options granted to employees.
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