NU Online News Service, Feb. 12, 12:19 p.m. – WellPoint Health Networks Inc., Thousand Oaks, Calif., is reporting $76 million in net income for the fourth quarter of 2001 on $3.4 billion in revenue, up from $60 million in net income on $2.4 billion in revenue for the fourth quarter of 2000.
The managed care company ended 2001 covering or administering major medical coverage for 10 million people, up from 7.9 million people a year earlier.
Average premium revenue per insured member increased 11%, to $475.
WellPoint has been expanding through acquisitions.
The company completed the acquisition of Cerulean Companies Inc., Atlanta, which had 1.9 million major medical members, in March 2001. Cerulean added $5.3 million in net income and $656 million in revenue to WellPoint’s fourth-quarter results, WellPoint says.