| UnitedHealth to Buy Sierra Health for $2.6 Billion (Update7)
March 12 (Bloomberg) -- UnitedHealth Group Inc., the largest U.S. health insurance company, agreed to buy Sierra Health Services Inc. for $2.6 billion, adding customers in the American Southwest. Sierra shares gained the most in almost four years. Stockholders of Sierra Health, a Las Vegas-based provider of health benefits and services, will receive $43.50 a share, the companies said today in a statement. The all-cash bid exceeds Sierra's closing price on March 9 by 21 percent. The stock had lost 12 percent in the past month after the company said a Medicare drug plan will lose money this year. The transaction extends the growth strategy of former UnitedHealth Chief Executive Officer William McGuire, ousted in October after an independent probe found he may have manipulated the dating of stock options.
Las Vegas Insurance Firm Announces Full Support of the New Anthem ...
Knox Associates, a Las Vegas based Employee Benefit Insurance firm is announcing full support for the new Anthem Blue Cross EmployeeElect Product Line. “We have been waiting for this small group health insurance product for over two years" Explained Jennifer Knox, president of Knox Associates. “When WellPoint and Anthem merged in late 2004 we knew this offering would eventually make it to the Nevada market because it has been offered to California business's for several years – it's finally here!" The plan is being offered to small groups throughout Nevada (2-50 employees). It works by giving the employer the flexibility to create a benefits package that can be custom tailored to fit the employer's needs. Nevada small businesses now have the flexibility to construct their own package of plans, giving them the choice of how many and which plans to offer to their employees. The plan offers six traditional PPO plans, five Consumer Driven plans (including Health Savings Account qualified plans) and three HMO plans to build from.
BestWeek: UnitedHealth’s $2.6 Billion Buyout of Las Vegas-Based ...
OLDWICK, N.J.--(BUSINESS WIRE)--UnitedHealth Group's pending $2.6 billion acquisition of the Las Vegas-based Sierra Health Services is a strategic move affording it access to among the fastest-growing markets in the United States. In an exclusive article in this week's BestWeek, industry observers speculate about more managed-care mergers ahead and note the smaller Sierra offers UnitedHealth a business model the other large publicly traded companies may find hard to match. UnitedHealth wants to be big everywhere, and because it was lacking in size in the Nevada area, the deal makes sense, said Donald Light, a senior equity analyst with Celent. With Sierra, UnitedHealth becomes the dominant player in Nevada's employer market, he said. Also featured is Best's Insurance Composite Index, which finished the week of March 15, 2007 at 1,295.24, up 6.79% from a year ago.
Two Minnesotans are at the White House Today, Representing ...
EAGAN, Minn., April 2 /PRNewswire/ -- A car accident left Heidi Searle with 36 stitches in her head, cracked ribs, and a dislocated shoulder. Because she couldn't afford health insurance and as an 18-year old was no longer eligible for her mother's plan, it also left her with around $10,000 in medical bills. As an uninsured patient, she was forced to give up college plans and instead work the graveyard shift at a bar in Las Vegas to pay collection agencies. Searle, now insured through Blue Cross and Blue Shield of Minnesota (Blue Cross), is at the White House today to share her story with President Bush. She is an example of the 4.5 million Americans and 129,000 Blue Cross members who now have HSA-compatible health plans. The announcement by President Bush is part of the release of a new study on HSAs released today by the America's Health Insurance Plans (AHIP).
AM Best Places Ratings of Sierra Health Services and Its ...
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has placed the issuer credit rating (ICR) and debt ratings of "bb+" of Sierra Health Services Inc (Sierra) (Las Vegas, NV) [NYSE: SIE] under review with positive implications. Additionally, A.M. Best has placed the financial strength rating of B++ (Good) and the ICRs of "bbb+" of Health Plan of Nevada, Inc. and Sierra Health and Life Insurance Company, Inc., both subsidiaries of Sierra, under review with positive implications. These rating actions follow Sierra's March 12, 2007 announcement of a signed definitive agreement that it will be acquired by UnitedHealth Group Inc. (UnitedHealth) (Minnetonka, MN) [NYSE:UNH]. The ratings of UnitedHealth and its insurance subsidiaries are unchanged by this transaction. The proposed transaction is valued at $2.6 billion.
MinuteClinic Continues to Expand in Las Vegas; Adds New Health ...
LAS VEGAS, March 14 /PRNewswire/ -- MinuteClinic, the pioneer and largest provider of retail-based health care in the United States, has opened a new health care center at the CVS/pharmacy store on The Strip (3758 Las Vegas Boulevard South). MinuteClinic launched its first health care center in the Las Vegas market in January at the CVS/pharmacy at Flamingo & Mountain Vista (4595 East Flamingo Rd.) and plans to add two more health care centers at CVS locations in the metropolitan area later this spring. MinuteClinic health care centers are staffed by masters-prepared, board- certified nurse practitioners and physician assistants who specialize in family health care and are trained to diagnose, treat and write prescriptions (when clinically appropriate) for common family illnesses such as strep throat and ear, eye, sinus, bladder and bronchial infections.
Bariatric surgery: Last resort, lifesaver
As a child, fat jokes were more numerous than friends for Mannie Maas. A bicycle was his only reliable companion. In high school, the Oneida man wanted to be a wrestler, but in the end wasn't allowed. At 400 pounds, he was just too heavy. Post-graduation, a 525-pound Maas decided to become a truck driver. He'd be on his own, he thought, free from the teasing he'd grown up with, but not the judgmental stares and careless whispers. Sometimes worse, like girls taking snapshots of him riding his Harley only to laugh at the photos later with friends. Yes, the years have toughened the 34-year old man's outer skin, and a self-deprecating sense of humor has gotten him by but not anymore. On Feb. 6, Dr. Ray Georgen performed a laparoscopic Roux-en-Y gastric bypass on the 649-pound Maas at Theda Clark Medical Center in Neenah.
Hawai'i nursing shortage critical
Hale Makua, a Maui-based care home, couldn't make use of all its 254 beds in Kahului last week because it couldn't find enough workers in the midst of a nursing and nurse aide shortage gripping the Islands. "We have beds that we can't staff," said Tony Krieg, chief executive of the facility that provides post-hospital recovery services. "When we stop admitting people, it really puts pressure on the hospital." Similar stories can be found around the state. Hawaii Pacific Health Inc., an operator of four hospitals, has an 8 percent nurse vacancy rate and considers itself lucky, given that the national average is in the double digits. At Kokua Nurses, one of the state's oldest nursing and home-care providers, demand for its nurses and certified nurse assistants far outstrips what it can offer.
Kemper Insurance Partners With Confluency Solutions To Help Agents ...
Kemper insurance is introducing new programs to promote organic insurance agency growth starting with a web based solution provided by Confluency Solutions. Confluency provides web site tools, including customer and prospect communication programs, and works with independent insurance agents to identify and implement solutions based on individual agency needs. Jacksonville, FL (PRWEB) April 10, 2007 -- Confluency Solutions announced today a formal program with Kemper Auto and Home Insurance to provide web based customer development programs to their independent agents. Confluency will provide web site design, hosting, security, forms, content, estimators, customer contact programs and training to help Kemper agents expand service to existing customers. Confluency's solutions also enhance referral activity and allow potential new customers to sample the advantages of doing business with a Kemper agent.
Hawks need some hits in the draft
One for four. That's what the Seattle Seahawks batted in the opening month of free agency. Entering the offseason, the Seahawks' top needs were a tight end, right guard, free safety and run-stopping defensive tackle. They aimed high at guard and tight end and struck out swinging on Kris Dielman and Daniel Graham. And they probably lost Graham because they focused so intently on getting defensive end Patrick Kerney, a luxury addition who comes as-is, with no guarantee. The Hawks finally filled a hole when they doubled up at safety with Deon Grant and Brian Russell. They also eventually found a tight end and are crossing their fingers that age (35) won't catch up to Marcus Pollard and that Pollard can still catch a few passes. They're also hoping for a miracle from Floyd "Pork Chopped Liver" Womack, the injury-prone guard who probably should start spelling his last name "Woe-mack." That said, the Seahawks currently are counting on Pork Chop to remain healthy for once and start at right guard in 2007.
Canine benefit at Nissi's with comedy and music
On Monday, April 2, a benefit for Scout the dog will be held at Nissi's in Lafayette. The event will feature comedian and Animal Planet's ER vet Kevin Fitzgerald, along with The Fables, a Beatles tribute band, and comedian Dave Deeble. Scout, an Anatolian Shepherd, was hit by a truck that slid on this winter's ice and suffered two badly mangled hind legs. His left leg received multiple compound fractures and bore major skin loss. The right leg saw the paw removed. Scout's owners, Teresa and T Taylor, are planning a surgery for a prosthetic foot at Denver's Alameda East Veterinary Hospital. The benefit at Nissi's aims to defray veterinary medical costs exceeding $18,000. Benefit headliner and animal lover Kevin Fitzgerald is both a veterinarian at Alameda East and a nationally recognized comedian, most recently seen on Animal Planet's E-Vet Interns show.
New knees for American Church Official in Indian hospital
GW, A 55 year old Church official from New York bid goodbye to his long standing knee pain thanks to the top notch service in the citys Bharathiraja specialty hospital. Years of kneeling during services had taken a heavy toll of his knees and he was in constant pain over the last three years. To seek an effective solution to his problems, he resorted to an Internet search for Knee surgery in India. This landed him on the site of Dr.A.K.Venkatachalam www.kneeindia.com. He had earlier seen a Television documentary called Sixty minutes which described the influx of patients to India for medical treatment. After E mail correspondence Gary was given a quote for a knee replacements. Satisfied by the quote, he decided to go through the operation in Chennai. The system in the US would not let him have a knee replacement and he would have to wait for another 15 years.
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Metro Ministries: Nonprofit's top official answers call to priesthood
Serving Corpus Christi's homeless population confirmed Sean-Michael Hazuda's desire to be a priest and now the chief executive officer of Metro Ministries plans to begin seminary studies for the Diocese of Corpus Christi this fall in Rome. "It's ironic that I came back to Corpus Christi to be closer to family and friends," said the 40-year-old Hazuda, who is from San Antonio and was living in South Carolina when he accepted the job at Metro Ministries. "And now here I am going to Rome." .
Fixing the insurance crisis
The recovery of the New Orleans metro area, and the redevelopment of all of South Louisiana, is threatened by the dearth of affordable property insurance. More than 19 months after Hurricane Katrina, some real estate closings in our region have stalled or been canceled because buyers cannot afford insurance. The crisis is spawning a flurry of proposals as the Legislature prepares to convene at the end of April. But Gov. Blanco and legislators need to be prudent as they consider how to address this issue. They should unequivocally reject talk of creating a state-financed catastrophe fund. Such a fund would assume too large a risk and could potentially deal a major financial blow to the state and its citizens, forcing them to pay for large losses while they are recovering from a disaster.
Discount Digs
ORMOND BEACH -- After six months of looking at houses, Tom Anderson and Dottie D'Esposito found the "perfect one" for them in Aberdeen, a manufactured housing community. The fact they could get it for about 25 percent less than the original asking price of $199,000 was like icing on the cake. "The seller became ill and had to move back to Flagler," Anderson said during a recent interview. He and D'Esposito coincidentally each owned a home in Flagler before moving here about a month ago. He was able to sell his house quickly, while hers was still on the market as of the end of March. "I've always liked Ormond Beach. We felt it would be more economically feasible to buy here," said the 71-year-old Anderson, who retired from the Navy. "I think you get more value for the buck than in a standard home," he said.
Business briefs, April 10
McDonald's Corp. has agreed to pay a penny more per pound for its Florida-grown tomatoes to boost wages for the migrant workers who harvest them. The announcement was made Monday by a Florida farmworker advocacy rights group and the nation's biggest fast-food restaurant chain. Florida pickers harvest about 90 percent of the nation's winter tomato supply. URANIUM RISES Uranium rose 18 percent to a record $113 a pound at a U.S. auction last week because of increasing demand for the fuel used in nuclear power plants, industry consultant TradeTech LLC said. Uranium prices have surged 57 percent this year, according to Denver-based TradeTech. That's more than any of the industrial metals traded on the London Metal Exchange, such as copper, or precious metals, including gold.
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