Humana, Louisville, Ky., agreed to acquire 48,000-member CarePlus Health Plans of Florida for about $408 million in an ongoing effort to expand its Medicare Advantage operations. The acquisition includes CarePlus' Medicare HMO, which operates in Broward, Miami-Dade and Palm Beach counties, 10 clinics and a pharmacy management company. The deal is expected to close in the first quarter pending regulatory approval and should add 15 cents to 18 cents to Humana's annual per-share earnings, bringing the company's 2005 projected per-share earnings to between $2.10 and $2.13, officials said. Humana has 7 million members, including 365,000 Medicare beneficiaries. Earlier this month, the company said it received approval to offer Medicare PPOs in 14 markets and it hoped to add 15 more markets. -- by Laura B. Benko
Humana acquires Fla. Medicare Advantage plan
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.
Recommended for You