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Humana: Difference between revisions
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In 1993, Humana had become the largest hospital operator in the country, owning 77 hospitals.{{Citation needed|date=September 2021}} Humana executives spun off hospital operations from health insurance operations to create Galen Health Care. The following year they sold the 73 hospitals of Galen Health Care Inc. to Nashville-based Columbia [[Hospital Corporation of America]] for $3.4 billion.<ref name=biz/> | In 1993, Humana had become the largest hospital operator in the country, owning 77 hospitals.{{Citation needed|date=September 2021}} Humana executives spun off hospital operations from health insurance operations to create Galen Health Care. The following year they sold the 73 hospitals of Galen Health Care Inc. to Nashville-based Columbia [[Hospital Corporation of America]] for $3.4 billion.<ref name=biz/> | ||
In 1998, one year after Jones had stepped aside as CEO, [[United Healthcare]] made an unsuccessful attempt to acquire Humana.<ref name=biz/> Humana pulled out of the acquisition after United stock dropped $2.9 billion in value.<ref>{{Cite news|url=https://www.wsj.com/articles/SB902713934522640500|title=Humana Walks Away From Merger After United HealthCare Stock Falls|last=Burton|first=Thomas M.|date=August 10, 1998|newspaper= | In 1998, one year after Jones had stepped aside as CEO, [[United Healthcare]] made an unsuccessful attempt to acquire Humana.<ref name=biz/> Humana pulled out of the acquisition after United stock dropped $2.9 billion in value.<ref>{{Cite news|url=https://www.wsj.com/articles/SB902713934522640500|title=Humana Walks Away From Merger After United HealthCare Stock Falls|last=Burton|first=Thomas M.|date=August 10, 1998|newspaper=The Wall Street Journal|issn=0099-9660|access-date=January 23, 2017|archive-date=June 25, 2017|archive-url=https://web.archive.org/web/20170625084224/https://www.wsj.com/articles/SB902713934522640500|url-status=live}}</ref> In 2001, Humana was a cofounder of Avality.<ref>{{cite news|last=Mathis|first=Karen Brune|url=https://www.jaxdailyrecord.com/showstory.php?Story_id=531565|title=Availity: from scratch to 300 employees and 700 million transactions|work=[[Financial News & Daily Record]]|date=July 30, 2010|access-date=August 17, 2016|archive-date=December 22, 2015|archive-url=https://web.archive.org/web/20151222155908/https://www.jaxdailyrecord.com/showstory.php?Story_id=531565|url-status=live}}</ref> | ||
In 2005, Humana entered into a [[business partnership]] with [[Virgin Group]], offering financial incentives to members for healthy behavior, such as regular exercise.<ref>{{Cite news|last=Green|first=Ed|url=http://www.bizjournals.com/louisville/stories/2006/03/20/daily28.html|title=Humana, Virgin launch health rewards program in Louisville|work=[[Louisville Business First|Business First]]|date=March 23, 2006|access-date=January 23, 2017|archive-date=February 2, 2017|archive-url=https://web.archive.org/web/20170202021125/http://www.bizjournals.com/louisville/stories/2006/03/20/daily28.html|url-status=live}}</ref> | In 2005, Humana entered into a [[business partnership]] with [[Virgin Group]], offering financial incentives to members for healthy behavior, such as regular exercise.<ref>{{Cite news|last=Green|first=Ed|url=http://www.bizjournals.com/louisville/stories/2006/03/20/daily28.html|title=Humana, Virgin launch health rewards program in Louisville|work=[[Louisville Business First|Business First]]|date=March 23, 2006|access-date=January 23, 2017|archive-date=February 2, 2017|archive-url=https://web.archive.org/web/20170202021125/http://www.bizjournals.com/louisville/stories/2006/03/20/daily28.html|url-status=live}}</ref> | ||
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In March 2015, Humana announced the sale of Concentra to private equity firm [[Welsh, Carson, Anderson & Stowe]] and [[Select Medical Holdings Corporation]] for about $1 billion, with proceeds to fund a "$2 billion share buyback program and other corporate spending."<ref name=reu>{{cite news|title=Humana to sell Concentra medical center unit for $1 billion|url=https://www.reuters.com/article/us-humana-welshcarson-m-a-idUSKBN0MJ1GF20150323|access-date=March 23, 2015|work=Reuters|date=March 23, 2015|archive-date=December 23, 2015|archive-url=https://web.archive.org/web/20151223045420/http://www.reuters.com/article/us-humana-welshcarson-m-a-idUSKBN0MJ1GF20150323|url-status=live}}</ref> | In March 2015, Humana announced the sale of Concentra to private equity firm [[Welsh, Carson, Anderson & Stowe]] and [[Select Medical Holdings Corporation]] for about $1 billion, with proceeds to fund a "$2 billion share buyback program and other corporate spending."<ref name=reu>{{cite news|title=Humana to sell Concentra medical center unit for $1 billion|url=https://www.reuters.com/article/us-humana-welshcarson-m-a-idUSKBN0MJ1GF20150323|access-date=March 23, 2015|work=Reuters|date=March 23, 2015|archive-date=December 23, 2015|archive-url=https://web.archive.org/web/20151223045420/http://www.reuters.com/article/us-humana-welshcarson-m-a-idUSKBN0MJ1GF20150323|url-status=live}}</ref> | ||
In July 2015, [[Aetna]] announced that it would acquire Humana for $37 billion in cash and stock (approximately $230 a share at that time). Aetna and Humana shareholders would own 74% and 26% of the new combined company, however the merger was blocked by a federal judge in January 2017.<ref>{{cite web|url=http://www.businesswire.com/news/home/20150702005935/en/Aetna-Acquire-Humana-37-Billion-Combined-Entity#.VZZFMuMayc3|title=Aetna Acquiring Humana for $37 Billion|publisher=BusinessWire|date=July 3, 2015|access-date=April 26, 2024|archive-date=February 17, 2024|archive-url=https://web.archive.org/web/20240217115753/https://www.businesswire.com/news/home/20150702005935/en/Aetna-Acquire-Humana-37-Billion-Combined-Entity#.VZZFMuMayc3|url-status=live}}</ref><ref>{{Cite news|last=Cancryn|first=Adam|url=http://www.politico.com/story/2017/01/judge-block-aetna-humana-merger-234043|title=Judge blocks major health insurance merger|work=[[Politico]]|date=January 23, 2017|access-date=January 23, 2017|archive-date=January 25, 2017|archive-url=https://web.archive.org/web/20170125173955/http://www.politico.com/story/2017/01/judge-block-aetna-humana-merger-234043|url-status=live}}</ref> In February 2017, [[Aetna Inc.]] and Humana Inc. quashed a $34 billion merger agreement after judges ruled against the merger for a second time.<ref>{{cite web|url=https://www.wsj.com/articles/cigna-calls-off-merger-with-anthem-1487104016|title=Antitrust Rulings Put Chill on Health-Insurance Mergers|last1=Wilde Mathews|first1=Anna|last2=Kendall|first2=Brent|date=February 15, 2017|publisher= | In July 2015, [[Aetna]] announced that it would acquire Humana for $37 billion in cash and stock (approximately $230 a share at that time). Aetna and Humana shareholders would own 74% and 26% of the new combined company, however the merger was blocked by a federal judge in January 2017.<ref>{{cite web|url=http://www.businesswire.com/news/home/20150702005935/en/Aetna-Acquire-Humana-37-Billion-Combined-Entity#.VZZFMuMayc3|title=Aetna Acquiring Humana for $37 Billion|publisher=BusinessWire|date=July 3, 2015|access-date=April 26, 2024|archive-date=February 17, 2024|archive-url=https://web.archive.org/web/20240217115753/https://www.businesswire.com/news/home/20150702005935/en/Aetna-Acquire-Humana-37-Billion-Combined-Entity#.VZZFMuMayc3|url-status=live}}</ref><ref>{{Cite news|last=Cancryn|first=Adam|url=http://www.politico.com/story/2017/01/judge-block-aetna-humana-merger-234043|title=Judge blocks major health insurance merger|work=[[Politico]]|date=January 23, 2017|access-date=January 23, 2017|archive-date=January 25, 2017|archive-url=https://web.archive.org/web/20170125173955/http://www.politico.com/story/2017/01/judge-block-aetna-humana-merger-234043|url-status=live}}</ref> In February 2017, [[Aetna Inc.]] and Humana Inc. quashed a $34 billion merger agreement after judges ruled against the merger for a second time.<ref>{{cite web|url=https://www.wsj.com/articles/cigna-calls-off-merger-with-anthem-1487104016|title=Antitrust Rulings Put Chill on Health-Insurance Mergers|last1=Wilde Mathews|first1=Anna|last2=Kendall|first2=Brent|date=February 15, 2017|publisher=The Wall Street Journal|access-date=February 15, 2017|archive-date=March 13, 2019|archive-url=https://web.archive.org/web/20190313052135/https://www.wsj.com/articles/cigna-calls-off-merger-with-anthem-1487104016|url-status=live}}</ref> | ||
In July 2018, Humana joined two [[private equity firm]]s in the acquisition of [[Kindred Healthcare]]. The deal provided Humana with a 40% stake in the company's home health, hospice and community care businesses, called "Kindred at Home," for approximately $800 million.<ref>{{cite web|url=https://www.forbes.com/sites/brucejapsen/2018/04/05/kindred-shareholders-approve-humana-deal/#70cd41d478fa|title=Kindred Shareholders Approve Humana Deal|last=Japsen|first=Bruce|date=April 5, 2018|work=[[Forbes]]|access-date=September 28, 2018|archive-date=April 10, 2019|archive-url=https://web.archive.org/web/20190410211105/https://www.forbes.com/sites/brucejapsen/2018/04/05/kindred-shareholders-approve-humana-deal/#70cd41d478fa|url-status=live}}</ref><ref>{{cite web|url=https://www.bizjournals.com/louisville/news/2018/09/20/humana-cfo-what-were-trying-to-do-with-health-care.html|title=Humana CFO: 'What we're trying to do with health care is fundamental transformation'|last=Larson|first=Chris|date=September 20, 2018|publisher=Louisiana Business First|access-date=September 28, 2018|archive-date=August 15, 2022|archive-url=https://web.archive.org/web/20220815040226/https://www.bizjournals.com/louisville/news/2018/09/20/humana-cfo-what-were-trying-to-do-with-health-care.html|url-status=live}}</ref> In August 2018, Humana announced the creation of a digital health and analytics division called Humana Studio H.<ref>{{Cite web|last=Greer|first=Carolyn|date=August 27, 2018|title=Humana plans new analytics division – here's where it's going|url=https://www.bizjournals.com/louisville/news/2018/08/27/humana-plans-new-analytics-division-heres-where.html|website=Louisville Business First|access-date=April 26, 2024|archive-date=February 13, 2023|archive-url=https://web.archive.org/web/20230213090129/https://www.bizjournals.com/louisville/news/2018/08/27/humana-plans-new-analytics-division-heres-where.html|url-status=live}}</ref> | In July 2018, Humana joined two [[private equity firm]]s in the acquisition of [[Kindred Healthcare]]. The deal provided Humana with a 40% stake in the company's home health, hospice and community care businesses, called "Kindred at Home," for approximately $800 million.<ref>{{cite web|url=https://www.forbes.com/sites/brucejapsen/2018/04/05/kindred-shareholders-approve-humana-deal/#70cd41d478fa|title=Kindred Shareholders Approve Humana Deal|last=Japsen|first=Bruce|date=April 5, 2018|work=[[Forbes]]|access-date=September 28, 2018|archive-date=April 10, 2019|archive-url=https://web.archive.org/web/20190410211105/https://www.forbes.com/sites/brucejapsen/2018/04/05/kindred-shareholders-approve-humana-deal/#70cd41d478fa|url-status=live}}</ref><ref>{{cite web|url=https://www.bizjournals.com/louisville/news/2018/09/20/humana-cfo-what-were-trying-to-do-with-health-care.html|title=Humana CFO: 'What we're trying to do with health care is fundamental transformation'|last=Larson|first=Chris|date=September 20, 2018|publisher=Louisiana Business First|access-date=September 28, 2018|archive-date=August 15, 2022|archive-url=https://web.archive.org/web/20220815040226/https://www.bizjournals.com/louisville/news/2018/09/20/humana-cfo-what-were-trying-to-do-with-health-care.html|url-status=live}}</ref> In August 2018, Humana announced the creation of a digital health and analytics division called Humana Studio H.<ref>{{Cite web|last=Greer|first=Carolyn|date=August 27, 2018|title=Humana plans new analytics division – here's where it's going|url=https://www.bizjournals.com/louisville/news/2018/08/27/humana-plans-new-analytics-division-heres-where.html|website=Louisville Business First|access-date=April 26, 2024|archive-date=February 13, 2023|archive-url=https://web.archive.org/web/20230213090129/https://www.bizjournals.com/louisville/news/2018/08/27/humana-plans-new-analytics-division-heres-where.html|url-status=live}}</ref> | ||