Cigna expands health management programs with Kronos purchase
CignaCorp. has acquired Kronos Optimal Health Co. in Phoenix in a move to expand its on-site health management programs. By adding the Phoenix wellness company’s lifestyle management, face-to-face coaching, biometric screening and health education programs, Cigna can offer more comprehensive services to employer groups. Financial terms of the deal were not released. Kurt Weimer, president of Cigna Onsite Health, said Kronos had been providing its biometric screening services to Cigna on a outsourcing basis because Cigna didn’t have those capabilities. As that relationship began to blossom, Weimer and Kronos President Andrea Lazar started talking about strengthening that relationship. Within five months, Kronos agreed to an acquisition. All 26 employees, except Lazar, will become part of the Cigna team, Weimer said. “Andrea will maintain a consulting relationship with us for a period of time,” Weimer said. [Read the full article]
Humana Military Healthcare Services has received re-accreditation for its Web site, www.humana-military.com, from health care accrediting organization URAC. Washington, D.C.-based URAC establishes quality standards for the health care industry. The accreditation is based on the Web site’s health content, policies and procedures, disclosure, external linking and privacy, according to a news release. Humana Military, a subsidiary of Louisville-based health insurer Humana Inc. (NYSE: HUM), already has URAC accreditation for case management; disease management in asthma, diabetes and heart failure; Health Information Portability and Accountability Act (HIPAA) — privacy category; health network and health utilization management. Humana Military has a contract with the U.S. Department of Defense, through its Tricare program, to provide managed-care services for 3 million active-duty and retired service members and their families in 10 states and Puerto Rico. [Read the full article]
UnitedHealth Group (NYSE:UNH – News) announced today that its Board of Directors, at its regular meeting on February 9, 2010, authorized payment of an annual dividend to shareholders for 2010. The dividend, $0.03 per share, will be paid on April 20, 2010, to all shareholders of record of UnitedHealth Group common stock as of the close of business on April 6, 2010. The company also paid a $0.03 per share dividend in 2009.
The Board also renewed and increased the Company Share Repurchase Program, under which up to 120 million shares of the Company common shares may now be repurchased. This includes approximately 23 million shares remaining under the previous share repurchase program. UnitedHealth Group repurchased 74 million shares of stock at a weighted average purchase price of $24.26 per share in 2009. [Read the full article]