Employment Won’t Drop Because of Aetna-Humana Deal, Executives Say
If the Aetna-Humana deal goes through, Louisville will become the headquarters of the company’s Medicare, Medicaid and Tricare businesses, officials from the companies said on Monday.
The executives also said employment in Louisville will stay the same—and could possibly grow.
The companies announced Friday that Aetna planned to buy Louisville-based Humana for $37 billion. The announcement immediately led some to express concerns that one of the city’s biggest and most prominent employers would be diminished.
Mark Bertolini, CEO and chairman of Aetna, said the acquisition of Humana will create one of the nation’s premiere managed care companies.
“Together we believe we will be very well positioned to better serve and provide improved value to our customers and continue to capture our fair share of this growing marketplace,” he said.
Aetna will acquire all of the outstanding shares of Humana for about $230 per share, delivered 54 percent in cash and 46 percent in Aetna stock. That results in a total transaction value of $37 billion, including assumption of Humana debt, Bertolini said.
The transaction has been approved by the boards of Humana and Aetna, and requires approval from shareholders of both companies.
The transaction is expected to be finalized during the second half of 2016, but it must pass through the scrutiny of regulators.“The combination will create a broader and improved set of provider relationships that will serve the combined companies customers and providers well,” said Bruce Broussard, president and CEO of Humana.