Humana Completes Acquisition of SeniorBridge
<0> Humana Inc.Investor Relations:Regina Nethery, 502-580-3644orCorporate Communications:Jim Turner, 502-580-3221orSeniorBridge Corporate CommunicationsShira Loyer, 212-994-6179 </0>
Humana Inc. (NYSE: HUM) announced today it has completed its acquisition of SeniorBridge, a national chronic-care provider best known for providing in-home care management and caregiving services for seniors. Terms were not disclosed.
Since its founding in 2000, SeniorBridge has been managing complex chronic care for seniors across the United States. SeniorBridge’s care-management teams of nurse practitioners, nurses, social workers and certified caregivers help seniors maintain and improve their health while remaining in their homes. A typical SeniorBridge patient is 65 or older and has multiple chronic conditions.
Eric Rackow, M.D., President and Chief Executive Officer of SeniorBridge, will continue leading the organization. He will report to Bruce Perkins, President of Humana’s Health and Well-being Services segment.
Acquiring SeniorBridge will immediately expand Humana’s existing care management capabilities with the addition of SeniorBridge’s national network of more than 2,000 care managers. Humana intends to fully leverage SeniorBridge’s capabilities managing chronically ill adults.
“Humana and SeniorBridge share a vision of moving care for seniors into the home,” said Humana’s Perkins. “SeniorBridge’s unique model of care management, planning and coordination, and impressive track record improving the health and function of individuals with complex health needs – and keeping them out of the hospital and emergency room – will enable Humana to better serve this growing segment of the population.”
“By joining forces with Humana, SeniorBridge becomes a stronger care-management and home-care company poised to expand services and scale nationally while improving the experiences of our clients, partners and employees,” said Dr. Rackow. “We are excited to create the new SeniorBridge and continue our work improving the well-being of individuals with complex health care needs.”
SeniorBridge and Humana’s care-management division, Humana Cares, will integrate their strong care management programs to provide a full spectrum of telephonic care-management, in-home care management and in-home caregiving to improve the health of seniors living with chronic conditions in the comfort of their homes. Longtime Humana leader Craig Drablos, recently named President of Humana Cares, will report to SeniorBridge CEO Rackow.
Humana’s acquisition of SeniorBridge is not expected to have a material impact on Humana’s financial earnings guidance for the year ending December 31, 2012.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in investor presentations, press releases, Securities and Exchange Commission (SEC) filings, and in oral statements made by or with the approval of one of Humana’s executive officers, the words or phrases like “expects,” “anticipates,” “intends,” “likely will result,” “estimates,” “projects” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions, including, among other things, information set forth in the “Risk Factors” section of the company’s SEC filings, a summary of which includes but is not limited to the following:
In making forward-looking statements, Humana is not undertaking to address or update them in future filings or communications regarding its business or results. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed herein may or may not occur. There also may be other risks that the company is unable to predict at this time. Any of these risks and uncertainties may cause actual results to differ materially from the results discussed in the forward-looking statements.
Humana advises investors to read the following documents as filed by the company with the SEC for further discussion both of the risks it faces and its historical performance:
SeniorBridge is a leading national care management company with a 12-year heritage in helping people cope with the challenges of complex chronic conditions such as congestive heart failure, chronic obstructive pulmonary disease, Parkinson’s disease, and Alzheimer’s disease. The company’s 44 offices and national care management network works with families, physicians, hospitals and health plans to address the total well-being of its clients through a comprehensive process of care assessment, planning, coordination and advocacy. The company is headquartered in New York City and benefits from the support of its advisory board of internationally known experts in geriatrics.
For more information about SeniorBridge, visit .
Humana Inc., headquartered in Louisville, Kentucky, is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships.
More information regarding Humana is available to investors via the Investor Relations page of the company’s website at , including copies of:
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