Louisville, Ky.-based health insurer Humana said today that it has agreed to purchase Ochsner Health Plan in Louisiana from multispecialty group practice Ochsner Clinic Foundation. Terms are not being disclosed.
The 471-physician medical group will retain its ownership of Ochsner Hospital in New Orleans and 31 primary care, specialty and surgical clinics across southern Louisiana.
"The sale of Ochsner Health Plan reflects Ochsner Clinic Foundation's desire to reinvest its financial resources in its core business of providing excellent medical care to our patients," clinic President and CEO Patrick Quinlan, M.D., says in a written statement.
The acquisition will give Humana its first large-scale presence in the New Orleans area and add 190,000 patients to its current enrollment of 6.6 million. Ochsner Health Plan currently has 152,000 commercial enrollees plus 36,000 participants in its Medicare+Choice HMO.
Humana says it expects to complete the purchase during the 2004 second quarter, pending approval by Louisiana insurance regulators.