The following insurers made headlines this week. They are listed below, beginning with the most recent.
1. Theranos strikes its first insurance deal
Palo Alto, Calif-based Theranos teamed up with Capital BlueCross to provide Theranos' technology and laboratory services in Central Pennsylvania. The companies will highlight how Theranos' services can be used to lower the cost of care in areas where costs of medical diagnostic testing are high due to a lack of healthcare resources.
2. Aetna to pay Humana $1B if deal fails to close by set date
Hartford, Conn.-based Aetna would be required to pay Louisville, Ky.-based Humana $1 billion of Aetna's $37 billion deal to acquire Humana does not close by June 30, 2016, according to a Securities and Exchange Commission filing by Humana. The SEC filing also addresses the consequences of the deal falling through all together.
3. Humana cuts profit outlook after Aetna deal announcement
Three days after announcing it would be acquired by Hartford, Conn.-based Aetna, Louisville, Ky.-based Humana lowered its 2015 financial forecast, according to Reuters. The outlook lowering was based on its Medicare Advantage members using hospital services at a higher rate than the insurer expected.
4. Aetna CEO claims Louisville jobs may grow
Following Aetna's $37 billion purchase of Humana, executives said they plan to maintain or even increase employment in Louisville, Ky., according to a report in The Courier-Journal. The recent acquisition will impact Louisville because Humana is the city's second-largest employer.
5. Moody's affirms Harvard Pilgrim Health Care's 'Baa3' rating
Moody's Investors Service affirmed the "Baa3" rating on New England-based Harvard Pilgrim Health Care's bonds, affecting approximately $49 million of series 1998A fixed-rate bonds to be issued through the Massachusetts Health and Educational Facilities Authority. The outlook is stable.
6. Aetna CEO confident Humana deal will pass antitrust scrutiny
Aetna Chairman and CEO Mark Bertolini believes his company's $37 billion deal to acquire Humana will pass antitrust review, allowing the transaction to close in the second half of 2016, according to Reuters. Aetna entered into a definitive agreement to acquire outstanding shares of Humana July 3.
7. Aetna inks $37B deal to acquire Humana
Hartford, Conn.-based Aetna entered into a definitive agreement to acquire all outstanding shares of Louisville, Ky.-based Humana in a deal valued at $37 billion. Under the transaction, which will close in the second half of 2016, Aetna will make Louisville, Ky., the headquarters for its Medicare, Medicaid and TRICARE businesses.