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October 26, 2005 at 08:00 PM
A cooling in health care price inflation helped earnings at WellPoint Inc. during the third quarter.[@@]
WellPoint, Indianapolis, is reporting $641 million in net income for the latest quarter on $11 billion in revenue, up from $242 million in net income on $4.8 billion in revenue for the third quarter of 2004.
The managed care company ended the quarter providing or administering health coverage for 29 million U.S. residents, up from 13 million a year earlier.
Profit, revenue and enrollment figures reflect the effects of the giant deal that created the new WellPoint. Anthem Inc., Indianapolis, acquired the old WellPoint Health Networks Inc., Thousand Oaks, Calif., through a merger in November 2004.
