Cariten Healthcare, a Tennessee based not-for-profit company is being acquired by Humana Inc, a Kentucky based for-profit corporation for $245M.The acquisition, which was announced earlier this month during a joint news conference at Humana’s corporate headquarters in Louisville, KY, is expected to close around November.
Humana’s acquisition of Cariten will bring added benefits to Cariten members and bolster Humana’s presence in Tennessee, executives for both companies said. Humana currently has 11.5 million members and offers corporate, individual, Medicare, and military benefits plans. With the purchase, Humana will also acquire over 100,000 members who already own Cariten insurance policies and ancillary benefits.
Knoxville will become the base of Humana’s senior products business for Tennessee and Alabama. All of Cariten’s employees will be hired by Humana. Cariten Chief Operating Officer Doug Haaland will manage Humana’s regional Medicare business in Knoxville.