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United States

Universal American Corp (UAM.N)

UAM.N on New York Stock Exchange

9.98USD
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Universal American Q4 adjusted loss per share $0.14 excluding items
Tuesday, 28 Feb 2017 04:38pm EST 

Universal American Corp : Universal American Corp reports 2016 fourth quarter results . Q4 adjusted loss per share $0.14 excluding items . Q4 revenue $341 million . Q4 earnings per share view $-0.02 -- Thomson Reuters I/B/E/S .Q4 loss per share $0.33.  Full Article

WellCare Health Plans to buy Universal American for $10/share
Thursday, 17 Nov 2016 07:15am EST 

Universal American Corp : Wellcare to acquire Universal American Corp. . Deal for $10.00 per share of common stock . Transaction is expected to be funded by Wellcare through available cash on hand . Transaction expected to be accretive to Wellcare's earnings . Deal expected to produce $0.70-$0.80 of accretion to Wellcare in second year after closing . Wellcare expects annual synergies of approximately $25 million to $30 million by 2019 from deal . Proposed price for Universal American's common shares implies an equity value of approximately $600 million . Deal is expected to produce $0.60 to $0.70 of accretion to Wellcare's adjusted earnings per share in first year after closing . Acquisition is expected to add about 65,000 MA members in Houston-Beaumont, Texas to Wellcare's medicare health plans membership . With retirement of company's preferred shares and its convertible debt, transaction would be valued at approximately $800 million .Acquisition expected to add about 14,000 MA members in northeast, primarily in New York, to Wellcare's medicare health plans membership.  Full Article

Universal American Q2 earnings per share $0.27
Thursday, 4 Aug 2016 06:00am EDT 

Universal American Corp : Q2 earnings per share $0.27 . Q2 adjusted earnings per share $0.06 excluding items . Q2 revenue $346 million versus I/B/E/S view $404.5 million .Q2 earnings per share view $0.06 -- Thomson Reuters I/B/E/S.  Full Article

Perry Corp dissolves stake in Universal American Corp as of June 27
Tuesday, 28 Jun 2016 04:51pm EDT 

Universal American Corp : Perry Corp dissolves stake in Universal American Corp as of June 27, 2016 - SEC filing .Perry Corp had reported a stake of 9.48 pct in Universal American Corp as of June 21, 2016 - SEC filing.  Full Article

Welsh Carson Anderson & Stowe X LP dissolves stake in Universal American
Tuesday, 28 Jun 2016 10:59am EDT 

Universal American Corp : Welsh Carson Anderson & Stowe X Lp Dissolves Stake In Universal American Corp As Of June 27 - Sec filing . Welsh carson anderson & stowe x lp had previously reported a stake of 8.5 percent in universal american as of june 21 Source : http://1.usa.gov/292iAWZ Further company coverage: [UAM.N] (Bengaluru Newsroom; +1 646 223 8780).  Full Article

Universal American says sale of traditional insurance business to close in Q3, 2016
Wednesday, 22 Jun 2016 06:17am EDT 

Universal American Corp : Sale of traditional insurance business to nassau reinsurance group holdings, l.p. Is expected to close in q3 of 2016 . One of company's third party reinsurers has withheld its consent to transaction . "company believes such refusal is in violation of relevant reinsurance treaties" .If company is unable to obtain this or any other required consent, it may not be able to close sale transaction.  Full Article

Universal American announces pricing of $100 mln private offering of convertible senior notes and stock repurchase
Tuesday, 21 Jun 2016 08:32pm EDT 

Universal American Corp : Announces pricing of $100 million private offering of convertible senior notes and stock repurchase . Priced its private offering of $100 million principal amount of convertible senior notes due 2021 . Notes will be unsecured, senior obligations of universal American bearing interest at 4.00% per annum . Universal American agreed to repurchase approximately $15 million of its common stock from purchasers of notes .Expects transaction to be accretive to future earnings.  Full Article

Universal American announces $40 mln share repurchase program
Tuesday, 21 Jun 2016 04:21pm EDT 

Universal American Corp : Intention to offer up to $100 million principal amount of convertible senior notes due 2021 . Board of directors authorized a $40 million stock repurchase program to repurchase shares of common stock . Universal American Corp says expects transaction to be accretive to future earnings . Plans to use net proceeds from offering,cash on hand, to repurchase stock from some of its stockholders . To purchase at least 75% of shares held by affiliates of perry capital and welsh, carson, anderson & stowe for $6.80 per share .Universal american corp. Announces proposed $100 million private offering of convertible senior notes and stock repurchase.  Full Article

Universal American reports Q1 adj. earnings $0.07/shr
Tuesday, 10 May 2016 06:00am EDT 

Universal American Corp : Universal american corp. Reports 2016 first quarter results . Qtrly net loss from continuing operations $0.1 . Qtrly net income $0.00 per share . Q1 adjusted earnings per share $0.07 excluding items . Q1 revenue $396 million versus i/b/e/s view $403 million .Q1 earnings per share view $0.04 -- Thomson Reuters I/B/E/S.  Full Article

Universal American enters into definitive agreement to sell its traditional insurance business; announces $0.75 per share special cash dividend to shareholders
Thursday, 8 Oct 2015 05:25pm EDT 

Universal American Corp :Enters into definitive agreement to sell its traditional insurance business; announces $0.75 per share special cash dividend to shareholders.Says deal valued at about $43 million.Says transaction is estimated to generate an after-tax loss of approximately $150 million.Under terms of agreement, Nassau will acquire 100% of constitution life insurance company and the pyramid life insurance company.Universal American also announced that board of directors approved the payment of a special cash dividend of $0.75 per share.Nassau will fund an additional $20 million in equity capital to support the transaction and strengthen the business moving forward.Nassau to buy 100% of traditional insurance business written by American progressive life & health insurance company of New York.  Full Article

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