Humana Inc. has agreed to acquire a small Medicare Advantage health maintenance organization (HMO) in Southern California.
Humana, Lousiville, Ky. (NYSE:HUM), is making the deal with MD Care Inc., Signal Hill, Calif., an HMO founded in 2007 that now has 15,000 enrollees. MD Care reported $155 million in 2010 revenue.
Humana is not saying how much it will be paying for MD Care. The companies hope to complete the deal by the end of the year.
MD Care offers Medicare Advantage medical plans, Medicare Advantage plans that include prescription drug coverage, and Medicare Advantage special needs plans.
The enrollees are in Los Angeles County, Orange County, San Bernardino County and Riverside County in California.
Humana has a total of 4.3 million Medicare plan enrollees and 200,000 Medicare plan enrollees in California.
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