Humana Completes Purchase of DefenseWeb® Technologies, Inc.
Acquisition Complements Department of Defense Business Initiatives
LOUISVILLE, Ky., March 2 /-- Humana Inc. (NYSE:HUM) announced today that it has completed its acquisition of California-based DefenseWeb Technologies, Inc. This transaction will assist Humana's subsidiary, Humana Military Healthcare Services (HMHS) in providing technology solutions in support of future government business offerings.
"HMHS is committed to providing quality, efficient and cost-effective business solutions to our Department of Defense partners. Aligning with the experts at DefenseWeb will help us achieve these desirable goals," said David J. Baker, HMHS president and CEO. "Quite simply, this acquisition will enhance our ability to offer greater value to our military customers."
"We're very pleased to become a part of the HMHS team," said DefenseWeb CEO Douglas Burke. "For the last decade, DefenseWeb has focused on helping our government customers, particularly in the armed services, improve quality of life for employees and their families. We're now positioned to both expand our relationships and also offer our existing customers HMHS' impressive resources and expertise."
Using innovative internet and client applications, DefenseWeb, headquartered in San Diego, CA, assists government and commercial organizations in addressing complex quality of life and healthcare issues, as well as automation and information challenges. The company designs, develops, deploys, and supports secure on-line information systems that help customers leverage technology to become more flexible, agile and responsive to change. DefenseWeb employs 70 full-time employees in several locations, including San Diego and Washington, D.C.
Terms of the transaction were not disclosed. Humana expects this transaction will have no material effect upon its earnings for the year ending December 31, 2007.
About HMHS
HMHS, headquartered in Louisville, KY., has been a Department of Defense contractor for the administration of the TRICARE program since July 1, 1996. In August 2003, HMHS was awarded the contract to provide health benefits support and services to approximately 2.8 million active duty and retired military and their eligible family members in the 10-state South Region. HMHS was also awarded the Department of Defense's contract to provide health care services and support for active duty service members and their families located in the Commonwealth of Puerto Rico, in February 2004.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's largest publicly traded health benefits companies, with approximately 11.3 million medical members. Humana offers a diversified portfolio of health insurance products and related services -- through traditional and consumer- choice plans -- to employer groups, government-sponsored plans, and individuals.
Over its 46-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the Investor Relations page of the company's web site at www.humana.com/, including copies of:
o Annual reports to stockholders;
o Securities and Exchange Commission filings;
o Most recent investor conference presentations;
o Quarterly earnings news releases;
o Replays of most recent earnings release conference calls;
o Calendar of events (includes upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors);
o Corporate Governance Information.
Source: Humana Military Healthcare Services
CONTACT: Julie Ice of Humana Military Healthcare Services,
+1-502-301-6982, or jice@humana.com
Web site: http://humana-military.com/
http://www.humana.com/
