Humana completed the purchase of the Medicare Advantage contract and related assets of the Las Vegas Medicare Advantage HMO business of UnitedHealth Group, called SecureHorizons, after receiving final regulatory approvals.
United had agreed to divest most of its Medicare Advantage business in the Las Vegas area as a condition of its acquisition of Nevadas largest health insurer, Las Vegas-based Sierra Health Services. The deal increases Louisville, Ky.-based Humanas Medicare Advantage HMO membership by approximately 26,700 with members primarily residing in Nevadas two most populous counties of Medicare eligible recipients, officials said.
The transaction price of $185 million in cash is expected to be financed through a combination of cash and debt. A full-service health benefits company, Humana claims 11.4 million medical enrollees. -- by Cinda Becker