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Feb. 15, 2008
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MHMR Feb. 15, 2008: Volume 16, Number 3
4Q07 MCO net rises 6.5%...United buys Sierra…Humana, United is Vegas deal…NY State to sue UnitedHealth…Magellan names Lerer CRO…Chart: MCO 4Q08 financials…Humana specialty lives grow…MCO stocks fall 4%...Services stocks fall 2.7%...and more…
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4Q07 MCO NET RISES 6.5%
Fourth-quarter 2007 net income among 13 top managed care organizations rose 6.5% to $3.092 billion on revenues of $59.366 billion, up 10.4%.
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UNITED COMPLETES ACQUISITION OF SIERRA
After a year-long delay, UnitedHealth Group (Minnetonka, MN) announced it had completed the previously announced (MHMR, March 15, 2007) acquisition of Sierra Health Services (Las Vegas, NV) in a deal valued at $2.6 billion.
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HUMANA TO BUY VEGAS MEDICARE LINE
Humana Inc. (Louisville, KY) has agreed to acquire UnitedHealth Group’s individual SecureHorizons Medicare Advantage HMO plans in Nevada’s Clark and Nye counties, affecting 25,000 members, for $185 million in cash.
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NY SAYS UNITED SHORT-CHANGES MEMBERS
The State of New York State announced its intention to file a lawsuit claiming that UnitedHealth Group (Minnetonka, MN) avoids paying a fair share of member out-of-network medical expenses by fraudulently manipulating “reasonable and customary” physician reimbursement rates.
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HUMANA HAS 6.8 MILLION SPECIALTY LIVES
Humana Inc. (Louisville, KY) said it has about 6.8 million specialty members, up from 1.9 million prior to last year’s acquisitions of dental and vision plan CompBenefits (MHMR, June 30, 2007) and voluntary health, life and disability company KMG America (MHMR, Sept. 30, 2007).
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