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News Breaks
January 4, 2013
16:48 EDTHUMHumana expects higher sales for individual Medicare Advantage plans in 2013
Humana will be meeting with investors and analysts at an industry conference on January 8, 2013. During the meetings, the company intends to address its prospects and performance. The company expects gross sales for individual Medicare Advantage plans for 2013 to be slightly higher than previously expected. Data from the Centers for Medicare and Medicaid Services indicates attrition in the company’s individual Medicare Advantage plans is also slightly higher than the company’s previous expectations. The company continues to expect net growth for individual Medicare Advantage membership of 100,000 to 120,000, net of the January 1, 2013 disposition of approximately 12,600 Medicare Advantage members acquired in the March 31, 2012 acquisition of Arcadian Management Services. Gross sales for the company’s stand-alone Prescription Drug Plans for 2013 are anticipated to be slightly below the range of previous expectations. Prescription Drug Plans disenrollment data indicates attrition is also slightly below the company’s previous expectations. The company continues to anticipate net membership growth for 2013 in its stand-alone Prescription Drug Plans in the range of 125,000 to 175,000.
News For HUM From The Last 14 Days
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March 24, 2015
08:49 EDTHUMHumana price target raised to $193 from $167 at Oppenheimer
Oppenheimer increased its price target on Humana (HUM) to reflect the company's sale of Concentra to Select Medical (SEM) and Welsh Carson for $1.055B. The firm says that the deal is likely to be supportive of Humana's earnings growth over the longer term. It keeps an Outperform rating on the shares.
07:43 EDTHUMDaVita subpoenas have mixed outcomes, says William Blair
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07:41 EDTHUMHumana received DOJ request for information on Medicare
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March 23, 2015
12:17 EDTHUMOn The Fly: Midday Wrap
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09:07 EDTHUMSelect Medical agrees to acquire Concentra through JV with Welsh Carson
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09:04 EDTHUMHumana to sell Concentra to Select Medical, Welsh Carson for $1.055B in cash
Humana (HUM) has reached a definitive agreement to sell the stock of its wholly-owned subsidiary, Concentra, to MJ Acquisition Corporation, a joint venture between Select Medical Holdings Corporation (SEM), an operator of specialty hospitals and outpatient rehabilitation clinics in the U.S., and Welsh, Carson, Anderson & Stowe XII, L.P., a private equity fund, for approximately $1.055B in cash, subject to customary adjustments. Humana acquired Concentra in December 2010. Subsequently, the assets of certain privately-operated Community Based Outpatient Clinics were transferred into Concentra. Additionally, Humana has divested certain Concentra non-core assets over the past four years. The decision to divest Concentra demonstrates the company’s commitment to its previously announced business portfolio review. Humana will continue performing its review of the alignment and return potential of businesses across the organization to ensure each supports the company’s integrated care delivery strategy and earns the appropriate return on invested capital. The Concentra transaction is anticipated to close during the second quarter of 2015 subject to Hart Scott Rodino regulatory clearance and customary closing conditions. Humana anticipates using the net proceeds from the transaction to advance its strategic growth priorities, to fund additional share repurchases under its existing $2 billion authorization and for general corporate purposes. Goldman, Sachs & Co. is acting as financial advisor to Humana. Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal advisor to Humana. Concentra reported revenues for the year ended December 31, 2014 were approximately $1B. Humana anticipates the Concentra divestiture will be slightly dilutive to 2015 EPS excluding any one-time gain expected upon the close of the transaction.
09:02 EDTHUMHumana reiterates FY15 EPS view $8.50-$9.00, concensus $8.87
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09:02 EDTHUMHumana to sell Concentra to Select Medical, Welsh Carson for $1.055B in cash
March 20, 2015
08:18 EDTHUMLeerink healthcare services analyst holds an analyst/industry conference call
Healthcare Services Analyst Gupte discusses Sustainable Growth Rate (SGR) and the proposed pay-fors and implications For Healthcare Services on an Analyst/Industry conference call to be held on March 20 at 11 am.
March 16, 2015
09:04 EDTHUMHumana announcse completion of $500M accelerated share repurchase program
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