Humana To Sell Occupational Health Provider Concerta
Humana will make about $1.06 billion in the deal. The sale reportedly reflects a narrowing of the big insurer's focus.
The Wall Street Journal:
Humana To Sell Concentra Unit For $1.06 Billion
Humana Inc. has agreed to sell its Concentra Inc. unit to a joint venture of Select Medical Holdings Corp. and private-equity firm Welsh Carson Anderson & Stowe for about $1.06 billion in cash. Select Medical Holdings operates specialty hospitals and outpatient rehabilitation clinics, while Concentra provides occupational health, urgent care and physical therapy services to employers and consumers in the U.S. Concentra had about $1 billion in revenue last year. (Dulaney, 3/23)
The Associated Press:
Humana To Narrow Focus Outside Insurance With Concentra Sale
Humana plans to sell occupational health care provider Concentra for about $1.06 billion, as the health insurer refines its focus on providing patient care. The Louisville, Kentucky, company said Monday it will sell Concentra to a joint venture between specialty hospital operator Select Medical Holdings Corp. and the private equity fund Welsh, Carson, Anderson & Stowe XII LP. Humana will then use proceeds from the deal to buy back stock. (3/23)
In other Humana news -
Modern Healthcare:
DaVita Pulled Into Federal Humana Investigation
DaVita HealthCare Partners has been drawn into a federal investigation of Humana's Medicare Advantage risk-adjustment practices, DaVita said in a Securities and Exchange Commission filing Monday. The subpoena relates to an ongoing investigation into the risk-adjustment practices of Humana and its service providers, including how patient diagnoses were determined, according to the filing. (Schencker, 3/23)
