Humana Inc. (HUM), a health insurance coverage provider, on Monday said it has entered into multi-year agreements with Laboratory Corp. of America Holdings (LH) and Quest Diagnostics (DGX), extending current contracts. Terms of the contracts were not disclosed.
The Louisville, Kentucky-based company said the contract will provide laboratory and testing services for Humana members. The agreements are effective Jan. 1, 2008.
Last month, Humana completed the acquisition of KMG America Corp. (KMA) for a total price of $187.7 million or $6.20 per share in cash. The total price consideration included nearly $15 million of debt and the assumption of about $35 million of debt.
HUM closed Monday's regular trading session at $76.17, down 48 cents. In the after-hours, the shares gained 17 cents. LH ended Monday's regular trading session at $73.65, up 55 cents. However, in the after-hours, the shares lost 7 cents. DGX finished Monday's regular trading session at $54.20, down 20 cents. In the after-hours, the shares further lost 4 cents.
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