LOUISVILLE, Ky. (AP) -- Humana Inc. says it has agreed to purchase Cariten Healthcare, a regional health insurer in Tennessee.
Humana says the approximately $245 million cash deal with Knoxville, Tenn.-based Covenant Health is expected to close in the fourth quarter of this year. Louisville, Ky.-based Humana says the deal isn't expected to affect its earnings guidance this year.
Cariten has nearly 210,000 commercial, Medicare and Medicaid members in multiple counties in the eastern half of Tennessee.
Humana says the Medicaid business relates to a TennCare program contract scheduled to be completed this coming Dec. 31. Humana says that contract won't be renewed.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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