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March 31, 2008
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MHMR March 31, 2008: Volume 16, Number 6
Humana to buy ODF plans…Centene to buy Celtic…MCOs try to define PBM units…Amerigroup DC pact on hold…Boorady on Tricare…Cigna buys Great-West…MCO stocks fall 4%...Services stocks rise 4%...On-site clinics grow…Chart: On-site clinic vendors…and more…
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HUMANA TO ACQUIRE OSF HEALTHPLANS
Humana Inc. (Louisville, KY) said it has signed a definitive agreement to acquire provider-owned OSF HealthPlans (Peoria, IL) in a deal valued at about $65.5 million.
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CENTENE TO BUY CELTIC FOR $80 MILLION
Medicaid health plan Centene Corp. (St. Louis, MO) is breaking into the individual market through a definitive agreement to acquire Celtic Group Inc. (Chicago) for $80 million.
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MCOs WORK TO DEFINE PBM OFFERINGS
Managed care companies with in-house pharmacy benefit management operations pitch a simple concept to employers: if you let us manage both your medical and drug benefits, we can create an integrated program that better controls overall healthcare costs. But there’s a problem.
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AMERIGROUP DC MEDICAID BUSINESS ON HOLD
Amerigroup Corp. (Virginia Beach, VA) said it has suspended preparations on a Washington, DC, Medicaid contract renewal set for May 1, after the District filed a complaint questioning the company’s rate calculations and claiming certain administrative costs were counted as healthcare costs.
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BOORADY SEES HUMANA, HEALTH NET KEEPING TRICARE
Citi analyst Charles Boorady said in a research note that he expects both Humana Inc. (Louisville, KY) and Health Net (Woodland Hills, CA) to maintain their existing Tricare military health benefits contracts with the Dept. of Defense.
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MVP MEMBERSHIP HITS 700,000, UP 6%
MVP Health Care (Schenectady, NY) said that as of March 24, 2008, membership across all lines of business was 700,000, up 6% from year-end 2007.
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ON-SITE CLINICS POISED FOR CONTINUED GROWTH
On-site healthcare clinics—i.e., clinics located on corporate campuses, workplaces, factories, etc. to be accessed by company employees—remains a rapidly growing market poised for continued expansion, according to a new report from Corporate Research, publisher is this newsletter.
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