Humana Concentra Buys Care Centers - Analyst Blog
September 23 2011 - 1:14PM
Zacks
On Monday, Humana Inc.’s (HUM) subsidiary,
Concentra Inc., acquired four urgent care medical centers from
NextCare Inc. However, the company did
not reveal the financial terms of the deal.
All the medical centers acquired by Concentra are in Atlanta,
with two in Kennesaw and two in Mableton. Of these, two centers
were consolidated with the
existing Concentra Urgent Care centers, while the other two were
renamed as Concentra Urgent Care centers. With this deal, the
number of Concentra's urgent care centers in Altanta reaches
15.
Concentra's
urgent
care centers provide urgent
care services and occupational services, in addition to wellness,
preventive and health education services.
With the demand for health and wellness services on the rise,
the acquisition
appears well-timed. It is not only expected to increase
Concentra's clientele, but also provide better quality service to
NextCare’s existing patients. Additionally, it will increase the
market share of Humana as compared to peers like
CIGNA Corporation (CI), Aetna
Inc. (AET) and UnitedHealth Group Inc.
(UNH).
Overall, Humana and its subsidiaries continue to grow inorganically. Last
month, Humana had announced a deal to purchase Arcadian Management
Services, a Medicare Advantage health maintenance organization that
has members in 15 U.S. states.
However, the
financial and other terms of purchase remain undisclosed. Humana
will complete the acquisition by the end of this year, after
obtaining the approval of U.S. federal and state
regulators.
Concentra Inc. is a leading private health care company based in
Addison, Texas. It was acquired by Humana in December 2010. Humana
currently carries a Zacks #1 Rank, which translates into a 'Strong
Buy' rating for the near term.
On Thursday, the shares of the company closed at $76.27, up
1.69%, on the New York Stock Exchange.
AETNA INC-NEW (AET): Free Stock Analysis Report
CIGNA CORP (CI): Free Stock Analysis Report
HUMANA INC NEW (HUM): Free Stock Analysis Report
UNITEDHEALTH GP (UNH): Free Stock Analysis Report
Zacks Investment Research
Aetna (NYSE:AET)
Historical Stock Chart
From Apr 2024 to May 2024
Aetna (NYSE:AET)
Historical Stock Chart
From May 2023 to May 2024