|
|
 |
 |
 |
|
|
|||
|
||||
|
||||
GEN: Can you envision the existence of a solitary insurer?From: Geffrey H. Klein, MD (gklein@icsi.net)Thu Dec 10 14:33:56 1998
Thursday December 10 9:59 AM ET Aetna To Buy Prudential Health Unit For $1 Billion HARTFORD, Conn. (Reuters) - Aetna Inc. (NYSE:AET - news) Thursday said it would acquire the healthcare business of Prudential Insurance Co. of America for $1 billion, in a deal that will make Hartford-based Aetna the largest U.S. provider of healthcare benefits. Acquiring Prudential HealthCare would add about 6.6 million health members to Aetna's health care subsidiary, Aetna U.S. Healthcare, bringing total membership to 22.4 million. It would make Aetna the nation's No. 1 managed care company, with 18.4 million managed care members, and also the largest provider of dental benefits, more than doubling its dental membership to over 15 million. Aetna said the transaction, which continues its transformation from an insurance company to primarily a managed healthcare company, would add to its operating earnings in 1999. Aetna anticipates achieving annual cost savings and efficiencies of about $130 million to $150 million after tax within the first two years or so. Aetna expects to finance the deal by issuing fixed-income securities. The companies plan to close the transaction in the second quarter of 1999, following approvals by federal and state regulators. The deal will result in Aetna providing health care to one of every 10 Americans, Richard Huber, Aetna's chairman and chief executive, said in a prepared statement. ``We plan to take the same deliberate approach that we have used for the integration of NYLCare, focusing on maintaining quality service throughout the integration period,'' Huber said. Aetna acquired NYLCare Health Plans from New York Life Insurance Co. in July for $1.05 billion. ``While jobs will be affected, we plan to rely as much as possible on attrition and growth in our business as we streamline operations,'' Huber added.
-- Geffrey H. Klein, MD geffrey.klein@obgyn.net 2200 Nasa Rd 1 #200 Houston, Texas 77058 (713) 741 2273 ext 2628
|
|
Return to
|
Mail a New Message to the Forum: ob-gyn-l@obgyn.net Forum Administrator: geffrey.klein@obgyn.net Report Technical Problems: webmaster@obgyn.net Last Updated: Tue Mar 2 05:29:44 2010 |
The American Medical Association is no longer designating CME hours for AMA Category II CME credit. However, physicians themselves may self designate learning activities as Category II CME credit hours if they feel it is of sufficient educational merit and meets the formal definitions of continuing medical education. OBGYN.net believes these interaction in this forum meets these criteria. For further information see the AMA web site.