Boston, MA 09/22/2014 (wallstreetpr) – According to a report brought out by Yahoo! Finance, the shares of Humana Inc (NYSE:HUM) surged almost 1% recently following the report that the company teamed up with Iora Health to release an Accountable Care Agreement.
The scheme aims to facilitate the company’s Medicare Advantage members in Washington and Arizona. The members are expected to benefit from the initiation of the four primary care practises of Iora Health in the states. Two of the care practises are in Seattle and the rest two in Phoenix. As a matter of fact, these primary care practices would be formed under the brand of Iora Primary Care.
The company’s Accountable Care initiative is analogous to an Accountable Care Organization (ACO). The latter is an association of healthcare companies who willingly come together to form groupings in order to offer synchronized top-notch care to the patients. It’s responsible for the cost, quality and overall care given to the members. Also, emphasis on the requirements of the patients as well as connecting the payments to upshots facilitates the model to advance the health of communities and individuals. Also, it restricts the hike in healthcare costs. According to the objectives of an ACO, the abovementioned contract must be advantageous to Iora Health and Humana Inc (NYSE:HUM).
The completion of public offering
According to another report published in Yahoo! Finance, the company, declared the conclusion of its public offering of $1.75 billion in senior notes. The notes include $400 million of Humana Inc (NYSE:HUM)’s 2.625% senior notes, which are due October 1, 2019 at 99.995% of the principal amount. Also, the senior notes are comprised of $600 million of the company’s 3.850% senior notes, which are due October 1, 2024 at 99.867% of the principal sum. Finally, it includes $750 million of Humana’s 4.950 senior notes that are due October 1, 2044 at 99.518% of the principal sum. These are together referred to as “Senior Notes Offerings.”