Humana to Acquire Metropolitan Health Networks for $850M

Humana

and Metropolitan Health Networks, Inc.

today announced that they have entered into a definitive agreement pursuant to which Humana will acquire Metropolitan in a transaction valued at approximately $850 million plus transaction costs. Headquartered in Boca Raton, Florida, Metropolitan is a Medical Services Organization that provides and coordinates medical care for approximately 87,500 Medicare Advantage, Medicaid, and other beneficiaries, primarily in Florida utilizing a primary care-centric business model. Under the terms of the agreement, which has been approved by both companies' boards of directors, Metropolitan stockholders will receive $11.25 per share in cash from Humana for each Metropolitan share. Humana