US health insurer Humana to acquire Metropolitan Health Networks for $850 mn
05 Nov 2012
US health insurer Humana Inc today agreed to acquire health care services provider Metropolitan Health Networks, for about $850 million.
Based in Boca Raton, Florida, Metropolitan is a medical services company that provides and coordinates medical care for approximately 87,500 Medicare, Medicaid, and other beneficiaries, primarily in Florida.
Metropolitan's integrated care delivery systems include 35 state-of-the-art primary care medical centres and a robust network of physicians serving mainly Humana members.
Under the terms of the deal, which has been approved by the board both companies, Humana will pay $11.25 per share in cash and also repay all of Metropolitan's outstanding debt.
Humana, based in Louisville, Kentucky, is a health care company that offers a wide range of insurance products and health and wellness services.
The company, which has grown through acquisitions, markets its health insurance services in all the 50 states in the US, and Puerto Rico, and has international business interests in Western Europe and Asia