Healthcare Business News

Humana extends care-delivery reach in $850 million deal

By Beth Kutscher
Posted: December 26, 2012 - 11:45 am ET

Humana, Louisville, Ky., has closed its $850 million acquisition of medical services organization Metropolitan Health Networks as it moves to adopt a more-integrated care model.

The insurer disclosed plans for the transaction last month; it also confirmed a deal to buy a minority interest in Miami-based medical services organization MCCI Group Holdings.

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Metropolitan Health Networks, based in Boca Raton, Fla., coordinates care for about 87,500 Medicare Advantage and Medicaid beneficiaries in the state. Its provider network includes about 35 primary-care medical centers as well as affiliated physicians who primarily serve Humana members, according to a news release. MetCare, one of Metropolitan Health Networks' wholly owned subsidiaries, is a National Committee for Quality Assurance-recognized patient-centered medical home.

Humana financed the acquisition by issuing new senior notes. Shareholders of Metropolitan will receive $11.25 per share in cash. The insurer will also repay Metropolitan's outstanding debt.

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