Key Developments: Universal American Corp (UAM.N)
10.91USD
1 Aug 2013
$0.07 (+0.65%)
$10.84
$10.90
$10.91
$10.81
74,441
41,622
$11.11
$7.70
Latest Key Developments (Source: Significant Developments)
Universal American Corp Declares Special Cash Dividend
Universal American Corp announced that the Board of Directors approved the payment of a special cash dividend of $1.60 per share, payable on August 19, 2013 to shareholders of record on August 12, 2013. Full Article
Universal American Corp Announces Appointment Of President-Form 8-K
Universal American Corp reported in its Form 8-K that on March 4, 2013, Erin Page, was appointed President, Medicare for Universal American Corp. (Company), responsible for managing the Company’s Medicare Advantage and Accountable Care Organization businesses. Full Article
Universal American Corp Announces $1.00 Per Share Special Dividend
Universal American Corp announced that the board of directors approved the payment of a special cash dividend of $1.00 per share, payable on November 19, 2012 to shareholders of record as of November 12, 2012. Full Article
Universal American Corporation Reaffirms FY 2012 EPS Guidance
Universal American Corporation announced that for fiscal 2012, it expects to earn approximately $0.64-$0.68 per diluted share (EPS). According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.68 for fiscal 2012. Full Article
Universal American Corporation Raises FY 2012 EPS Guidance
Universal American Corporation announced that it expects to earn approximately $0.64 to $0.68 per diluted share (EPS) for fiscal 2012, excluding start-up costs for Accountable Care Organizations and realized capital gains/losses. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.57 for fiscal 2012. Full Article
Universal American Corporation Completes Acquisition Of APS Healthcare
Universal American Corporation announced that it has completed its acquisition of APS Healthcare, a provider of specialty healthcare solutions primarily to Medicaid agencies. The purchase price for the transaction is (i) $227.5 million, consisting of approximately $150.5 million in cash to retire APS Healthcare’s outstanding indebtedness and other liabilities and approximately $77.0 million in Universal American common stock, plus (ii) up to $50 million in potential performance based consideration, payable in cash in March 2014 to the extent APS Healthcare’s financial results exceed certain thresholds. To fund the equity portion of the purchase price, at closing, Universal American issued 6,504,461 shares of its common stock to funds affiliated with the private equity firm GTCR and other former equity holders of APS Healthcare, representing approximately 7.4% of Universal American’s outstanding common stock. At closing, David Katz, a Principal at GTCR, was appointed to the Universal American board of directors. To fund the cash portion of the purchase price, at closing, Universal American entered into a new $225 million Credit Facility with a group of lenders led by BofA Merrill Lynch, consisting of a $150 million term loan and a $75 million revolving credit facility, which was undrawn at closing. Full Article
Universal American Corporation Issues FY 2012 EPS Guidance In Line Analysts' Estimate
Universal American Corporation announced that for fiscal 2012, it expects to earn approximately $0.52 to $0.58 per diluted share (EPS). According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.59 per share for fiscal 2012. Full Article
Universal American Corporation To Acquire APS Healthcare, Inc.
Universal American Corporation announced that it has entered into a definitive agreement to acquire APS Healthcare, Inc., provider of specialty healthcare solutions for $227.5 million. The purchase price for the transaction is $227.5 million, consisting of $147.5 million in cash to retire APS Healthcare’s outstanding indebtedness and other liabilities, and $80 million in Universal American common stock, plus up to $50 million in potential performance based consideration, payable in cash in March 2014 to the extent APS Healthcare’s financial results exceed certain thresholds. Goldman Sachs is acting as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to Universal American. Credit Suisse is acting as exclusive financial advisor and Kirkland & Ellis LLP is acting as legal counsel to GTCR LLC and APS Healthcare. Full Article

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