Humana to buy MD Care for undisclosed sum
Health insurer Humana Inc. said Friday that it reached a deal to buy MD Care, a California health maintenance organization.
Financial terms were not disclosed.
MD Care was founded in 2007 and provides supplemental health coverage to about 15,000 Medicare beneficiaries in four southern California counties, Humana said.
The Louisville, Ky., insurer said it doesn't expect the acquisition to materially affect its 2011 earnings guidance. MD Care posted $155 million in revenue last year.
The deal, which is subject to regulatory approval, is expected to close in late 2011.
In afternoon trading, Humana shares rose 47 cents to $76.74.