Aetna And Humana Reviewing Options To Press For Merger After Court Decision
The companies say they want to go forward with their plans and will fight a federal judge's decision that their merger would stiffle competition.
Reuters:
Aetna, Humana To Consider All Options After Court Blocks Merger
Aetna and Humana would consider all available options for their proposed $34 billion merger, the two U.S. health insurers said on Tuesday, a day after a court ruled against the deal due to fears it would lower competition. The deal would "substantially lessen competition" in the sale of Medicare Advantage plans in 364 counties in 21 U.S. states and on the Obamacare exchange in three Florida counties, the U.S. District Court for the District of Columbia ruled on Monday. (Humer and Banerjee, 1/24)
USA Today:
Aetna, Humana Assess Next Options
"We continue to believe a combined company will create access to higher-quality and more affordable care and deliver a better overall experience for those we serve," Aetna Chairman and CEO Mark Bertolini and Humana CEO Bruce Broussard said in a joint statement. (McCoy, 1/24)
The Washington Post:
Judge Says Aetna Dropped Out Of Some Obamacare Markets To Help Win Its Merger Fight
Aetna announced it would pull out of most of the state exchanges where it sold health insurance under the Affordable Care Act last August, citing financial losses. But a U.S. District Court judge who rejected the company's proposed merger with Humana on Monday revealed in his opinion that profitability wasn't the only concern driving the company's decision -- Aetna also exited several markets as part of an effort to "improve its litigation position." (Johnson, 1/24)
Modern Healthcare:
Aetna Jeopardized Its Antitrust Case And The ACA By Exiting Some Exchanges
A federal judge said Aetna worsened its chances for closing its $37 billion merger with Humana when it pulled out of several Affordable Care Act insurance exchanges. Aetna had said it was due to financial losses. U.S. District Judge John Bates Monday blocked the $37 billion tie-up. According to his opinion, Aetna leadership made good on repeated threats to the U.S. Justice Department and then-HHS Secretary Sylvia Mathews Burwell to curtail its participation in the exchanges if the merger were blocked. (Livingston, 1/24)
The CT Mirror:
Aetna, Humana Still Weighing Appeal Of Ruling Blocking Merger
The day after a federal judge dealt a crusing blow to Aetna’s plans to merge with Humana, the insurance companies’ CEOs said they were still mulling whether to appeal the decision. ... U.S. Circuit Court Judge John Bates on Monday enjoined the insurers from merging, agreeing with the U.S. Justice Department, which sued to block the deal, saying it would result in a lack of competition, higher premium, less choice and poorer care. (Radelat, 1/24)
