Aetna, Humana Shareholders OK Proposed Merger
The deal, however, still faces hurdles, including scrutiny by federal antitrust authorities.
Reuters:
Aetna, Humana Shareholders Approve Proposed Merger
Health insurer Aetna's proposed $37 billion acquisition of smaller rival Humana Inc was approved by the shareholders of both companies. The companies continue to expect the deal to close in the second half of 2016, they said in separate statements on Monday. Aetna in July said it would buy Humana to become the largest provider of Medicare plans for the elderly. (Grover, 10/19)
Modern Healthcare:
Aetna, Humana Shareholders Vote For Merger, But Deal Still Faces Hurdles
The merger between Aetna and Humana moved one step closer to the finish line Monday as shareholders from both companies voted to approve the deal. Shareholders gave their overwhelming approval to the transaction with 99% of the votes in Connecticut and New York cast in favor of the deal. Aetna shareholders voted in the early afternoon with Humana shareholders voting two hours later. (Kutscher, 10/19)
In other marketplace news -
Modern Healthcare:
Cancer Treatment Centers Of America CEO Gerard Van Grinsven Resigns
Gerard van Grinsven has resigned as president and CEO of Cancer Treatment Centers of America “to pursue other interests,” the company announced Monday afternoon. A Modern Healthcare investigation last year found that three of the company's facilities were among the nation's leaders in receiving Medicare supplemental “outlier” payments, which are intended to compensate hospitals for unusually expensive episodes of care. The payments are derived in part from hospitals' retail prices, which typically exceed the actual cost of care. The company has also been criticized for broadcasting commercials that promote false hope and cherry-picking patients to skew its outcomes. (Rubenfire, 10/19)
