Humana Completes Acquisition of Metropolitan Health Networks, Inc.


Humana Completes Acquisition of Metropolitan Health Networks, Inc.

<0> Humana Investor RelationsRegina Nethery, 502-580-3644orHumana Corporate CommunicationsTom Noland, 502-580-3674 </0>

Humana Inc. (NYSE: HUM) today announced that it has completed its previously announced acquisition of Metropolitan Health Networks, Inc. (NYSE: MDF) in a transaction valued at approximately $850 million plus transaction costs. Headquartered in Boca Raton, Florida, Metropolitan is a Medical Services Organization that provides and coordinates medical care for approximately 87,500 Medicare Advantage, Medicaid, and other beneficiaries, primarily in Florida utilizing a primary care-centric business model. Metropolitan’s integrated care delivery systems include approximately 35 state-of-the-art primary care medical centers and a robust network of affiliated physicians serving mainly Humana members.

In connection with the closing of this transaction, Metropolitan stockholders will receive $11.25 per share in cash from Humana for each Metropolitan share held. Humana will also repay all of Metropolitan’s outstanding debt.

Humana has financed the transaction primarily through the recent issuance of senior notes. The company continues to anticipate the transaction to be modestly accretive to its earnings for the year ending December 31, 2013 (FY13). Humana expects to update its earnings guidance for FY13 to reflect the closing of the Metropolitan acquisition in conjunction with its fourth quarter 2012 earnings release on February 4, 2013.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in investor presentations, press releases, Securities and Exchange Commission (SEC) filings, and in oral statements made by or with the approval of one of Humana’s executive officers, the words or phrases like “expects,” “anticipates,” “intends,” “likely will result,” “estimates,” “projects” or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions, including, among other things, information set forth in the “Risk Factors” section of Humana’s SEC filings, as well as the other information that Humana may provide with respect to the pending merger, a summary of which includes but is not limited to the following:

In making forward-looking statements, Humana is not undertaking to address or update them in future filings or communications regarding its business or results. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed herein may or may not occur. There also may be other risks that the company is unable to predict at this time. Any of these risks and uncertainties may cause actual results to differ materially from the results discussed in the forward-looking statements.

Humana advises investors to read the following documents as filed by the company with the SEC for further discussion both of the risks it faces and its historical performance:

Humana Inc., headquartered in Louisville, Kentucky, is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being. By leveraging the strengths of its core businesses, Humana believes it can better explore opportunities for existing and emerging adjacencies in health care that can further enhance wellness opportunities for the millions of people across the nation with whom the company has relationships.

More information regarding Humana is available to investors via the Investor Relations page of the company’s web site at , including copies of:

Metropolitan Health Network, Inc., a subsidiary of Humana Inc., is a growing health care company that provides and coordinates comprehensive health care services for Medicare Advantage, Medicaid, and other customers through its primary care-centric businesses, MetCare of Florida, Inc., Continucare Corporation, and Symphony Health Partners, Inc. Metropolitan currently owns and operates approximately 35 medical centers and contracts with a network of independent primary care practices.