Humana to buy dental and vision benefits provider
NEW YORK (Reuters) - Health insurer Humana Inc. (HUM.N) said on Tuesday that it plans to buy dental and vision benefits provider CompBenefits Corp. for $360 million to expand its health coverage.
Atlanta-based CompBenefits provides dental and vision benefit plans to more than 4.8 million members, Humana said.
"When combined with our current HumanaDental business unit, this acquisition will give Humana the type of comprehensive integrated product offering that employers are seeking," Humana CEO Mike McCallister said in a statement.
Humana does not expect the deal to impact its 2007 profit forecast but said it would help earnings per share in 2008 by 5 cents to 8 cents. The deal is expected to close in the third quarter.
