Earnings Week in Review: Healthcare Giants Navigate Growth and Hurdles
We’re taking a look at some of the major companies reporting earnings in the week of July 15-July 19, across a variety of sectors. UnitedHealth Group and Novartis showcased strong growth, while Johnson & Johnson and Elevance Health presented more mixed results. Abbott Laboratories also reported solid results, driven by its medical devices segment, while facing challenges in its diagnostics business due to waning COVID-19 testing demand. This week’s earnings reports offer insights into the broader healthcare industry’s performance and future trajectory. UnitedHealth Group UnitedHealth Group (UHG) demonstrated a significant turnaround in its second quarter of 2024, posting a... Read More »
Priority Health Expands into Northern Indiana and Ohio With Physicians Health Plan of Northern Indiana Acquisition
Priority Health and Physicians Health Plan of Northern Indiana (PHPNI) announced on June 19 plans for Priority Health to acquire PHPNI. Established in 1983, PHPNI is a leading commercial health plan offering employer-sponsored benefits and third-party administration to more than 52,000 members primarily across Indiana and Ohio. It is headquartered in Fort Wayne, Indiana. Priority Health is the second largest health insurer in Michigan after Blue Cross Blue Shield of Michigan. Serving more than 1.3 million members each year and offering a broad network of primary care physicians in Michigan, Priority Health offers an extensive portfolio of health benefits options for employer groups and... Read More »
Elevance Health Purchases New York Medicaid Plan
Elevance Health has announced its plans to acquire Centers Plan for Healthy Living, a New York-based Medicaid long-term care plan. Centers Plan for Healthy Living is a managed care organization with 53,000 members. Elevance Health currently has 57,000 long-term care enrollees across the state of New York. Elevance Health, formerly Anthem, Inc., connects consumers, families and communities to the care, support and resources they need to lead healthier lives. Its companies serve more than 119 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical and complex care solutions. According to its full-year financial report for 2023, Elevance’s annual operating... Read More »
A Look at the Managed Care Public Market of 2023
The Managed Care sector witnessed a dynamic year in 2023, with key players navigating various challenges and opportunities. This analysis explores the financial trajectories of major companies, including Humana, Cigna, UnitedHealth Group, Elevance Health, Centene and Molina, shedding light on the trends, challenges and strategies currently shaping the market. Market Overview: Over the years, Managed Care companies have demonstrated resilience and growth. The market has consistently followed an upward trajectory, with most of the major players experiencing revenue growth each year. Source: Macrotrends UnitedHealth Group stands out as the revenue leader, with consistently strong revenue... Read More »
Cigna Sells Medicare Assets to Health Care Service Corporation for $3.7 Billion
Cigna has announced the sale of its Medicare Advantage, Cigna Supplemental Benefits, Medicare Part D and CareAllies businesses to Health Care Service Corporation (HCSC) for a total transaction value of approximately $3.7 billion. HCSC is the United States’ largest customer-owned health insurer with nearly 17.5 million members in its health plans in Illinois, Montana, New Mexico, Oklahoma and Texas. HCSC was formerly known as Hospital Service Corporation and changed its name to Health Care Service Corporation in 1975. Centerview Partners LLC is acting as a financial advisor to Cigna. Morgan Stanley & Co. LLC provided additional financial advice. Wachtell, Lipton, Rosen & Katz... Read More »Schedule a demo
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