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Article: United States: Defense Department Awards Contracts to Aetna, UnitedHealth.
- Article from:
- TendersInfo
- Article date:
- July 14, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
The U.S. Department of Defense awarded billion-dollar military health care contracts to Aetna Inc. and UnitedHealth Group Inc., ending an alliance with two of the health insurers' competitors.
Aetna was selected to take over the program in the North region, replacing Health Net Inc., while Humana Inc. was removed in the South by UnitedHealth following more than a year of government review.
Both Humana and Health Net hinted they may protest the decision, although the companies were waiting for further information.
Following the news, Health Net's shares slumped 19% to $11.50, while Humana fell 5.2% to $29.01. Meanwhile, ...