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Humana sees improved 2012, plans $500M acquisition

Reuters, November 6, 2012
US health insurer Humana Inc said on Monday it expects 2012 to be better than it expected because it had costs under control. It also announced plans for a $500 million healthcare acquisition, the latest move in its expansion of its government insurance business. Humana beat profit expectations even as its earnings fell. Its profits largely recovered from last quarter when a surge in membership created a surprise increase in payments for claims and its earnings fell short. The profit outlook dampened shares, Matthew Coffina, an analyst at Morningstar Research said, as did a conference call with management in which analysts and investors voiced concerns about the company's acquisitions plans.