Saturday, May 30, 2009
According to a source, Emblem Health Inc. is planning to buy Health Net's Northeast health insurance operations. EmblemHealth is in the last stages of negotiations with Health Net, sources said. If everything goes well, a sale agreement may be announced within two weeks. Amy Sheyer, director of communications at Health Net Inc., said, "We don't comment on market speculation."
Health Net Inc. is headquartered in California. Its north east operations have about 1,700 employees and serves Connecticut, New York and New Jersey. EmblemHealth would benefit if it buys Northeast operations of Health Net as it will give a significant presence in New Jersey and a bigger market share in Connecticut in Medicare Advantage health care plans as well as commercial, or employer based, health insurance. ConnectiCare has roughly 240,000 members and 500 employees. Health Net had been trying to sell its underperforming Northeast and Arizona units since late last year.
Labels: EmblemHealth is planning to buy Health Net's Northeast health insurance operations
posted by renaa
@ 5:57 PM
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