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Acquisition of 92,500 members increases Humana’s commercial medical membership in Kentucky to more than 700,000 LOUISVILLE, KY - May 1, 2006 - Humana Inc. (NYSE: HUM) today announced that its subsidiary, Humana Health Plan, Inc., has completed its acquisition of Lexington, Ky.-based CHA HMO, Inc., known as CHA Health. The transaction has received required federal and state regulatory approvals; today, the acquisition takes effect.
"This is a great day for Humana and CHA members throughout Kentucky, as two health-benefits leaders in the Commonwealth are joining forces to become a stronger combined company," said Jeff Bringardner, president of Humana's commercial operations in Kentucky. "As we stated during the acquisition process, Humana believes the purchase of CHA Health will benefit CHA's employer-customers, their employees and provider partners throughout the state." Bringardner pointed out that the acquisition will strengthen Humana's position in Central and Eastern Kentucky, areas where CHA Health is strongest and many of its health-plan members reside. It will also enable Humana to bring its industry-leading technology, web-based health-benefits applications and focus on consumerism in health care to CHA's current customers. CHA Health is a Kentucky-based health plan with approximately 92,500 members serving employers in the Commonwealth. With headquarters in Lexington and a Louisville branch, CHA Health was founded in 1991 by Kentucky medical providers committed to providing outstanding medical care, affordable and flexible health plans and improved access to health care and personal service. The University of Kentucky was CHA's majority shareholder. Throughout 2006, and possibly beyond, the CHA Health name will remain in place. Current contractual relationships with CHA employer groups and providers will continue in accordance with their terms. Humana, which currently has a Lexington office, intends to house all Humana-CHA associates in one yet-to-be-determined Lexington location beginning in 2007. About Humana Humana Inc., headquartered in Louisville, Ky., is one of the nation's largest publicly traded health benefits companies, with approximately 9.3 million medical members. Humana offers a diversified portfolio of health insurance products and related services - through traditional and consumer-choice plans - to employer groups, government-sponsored plans, and individuals. Over its 45-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio. More information regarding Humana is available to investors via the Investor Relations page of the company's web site at http://www.humana.com, including copies of: |
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FOR MORE INFORMATION, CONTACT:
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