Business
Humana acquires CarePlus
NEWS IN BRIEF — Posted Jan. 3, 2005
Louisville, Ky.-based Humana Inc. announced in December 2004 it intends to acquire CarePlus Health Plans of Florida, a provider of Medicare HMO health plans in Miami-Dade, Palm Beach and Broward counties.
Humana will pay about $408 million plus any excess statutory surplus that it gains at the time of the closing, the company said.
CarePlus has nearly 50,000 members in South Florida, with particular strength in the Miami area's Hispanic market. Humana already has 230,000 Medicare members on its Medicare Advantage rolls in Florida, more than half of whom live in South Florida.
Humana will take over CarePlus's 10 CAC-Florida Medical Centers, which are outpatient clinics and their pharmacies, and also PrescribIT Rx, a pharmacy benefits management subsidiary. CarePlus was part of PHP Holdings Inc. of Florida. Virginia Beach, Va.-based Amerigroup Corp. bought PHP, a managed care company serving Medicaid recipients and children in the State Children's Health Insurance Program, in 2002. It did not acquire CarePlus operations.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/01/03/bibf0103.htm.
