Humana, Louisville, Ky., agreed to acquire 188,000-member Ochsner Health Plan from Ochsner Clinic Foundation, New Orleans. Terms of the deal were not disclosed. The addition of Louisiana's third-largest insurer would give Humana a much stronger foothold in the state, where it currently has only 4,000 PPO members. The Ochsner plan earned $8.4 million on revenue of $683.9 million last year, according to the National Association of Insurance Commissioners. The Ochsner foundation, which owns 436-bed Ochsner Hospital and 25 clinics throughout the state, said it plans to refocus on its core business of providing medical service. The sale, which requires regulatory approval, is expected to close in the second quarter of 2004. Humana does not expect the deal to materially affect 2004 earnings. The company has 6.6 million members in 18 states and Puerto Rico. -- by Laura B. Benko
Humana to buy plan from La. physician group
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