A large managed care company is acquiring a small carrier in the Sunshine State.
Humana Inc., Louisville, Ky., says it will be paying $14 million for Metcare Health Plans Inc., a unit of Metropolitan Health Networks Inc., West Palm Beach, Fla.
Metcare provides Medicare Advantage coverage for about 7,000 Florida residents in Charlotte, Collier, Glades, Lake, Lee, Manatee, Marion, Martin, Okeechobee, Polk, Sarasota, St. Lucie and Sumter counties.
The deal is subject to approval by state and federal regulators.
Humana hopes to complete the deal by Sept. 30, the company says.
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