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Humana Inc Enters Into Agreement To Acquire Metropolitan Health Networks, Inc.

Monday, 5 Nov 2012 06:01am EST 

Humana Inc announced that they have entered into a definitive agreement pursuant to which the Company will acquire Metropolitan Health Networks, Inc. in a transaction valued at approximately $850 million plus transaction costs. Headquartered in Boca Raton, Florida, Metropolitan is a Medical Services Organization that provides and coordinates medical care for approximately 87,500 Medicare Advantage, Medicaid, and other beneficiaries, primarily in Florida utilizing a primary care-centric business model. Under the terms of the agreement, which has been approved by both companies` Boards Of Directors, Metropolitan stockholders will receive $11.25 per share in cash from Humana for each Metropolitan share. Humana will also repay all of Metropolitan`s outstanding debt. The transaction is subject to Metropolitan shareholder approval and customary closing conditions including expiration of the Hart-Scott-Rodino anti-trust waiting period and is expected to close by the end of the first quarter of 2013. Humana expects to finance this transaction with a combination of cash and debt. 

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1.87 +1.46%
20 Oct 2014