Health insurer Humana Inc is exploring a sale of its urgent care subsidiary Concentra in a deal that could value it at around $1 billion, according to three people familiar with the matter.The effort to sell Concentra comes less than four years after the unit was acquired. It indicates that Humana, one of the largest providers of Medicare plans for the elderly in the United States, has faced challenges in trying to run healthcare centers itself in order to better manage medical costs.Humana has hired investment bank Goldman Sachs Group Inc to advise on the sale process, the people said on Wednesday, declining to be named because the matter is not public. Humana, based in Louisville, Kentucky, could not be reached for comment. Goldman Sachs declined to comment.Humana shares were down 1.5 percent at $131.3 in afternoon trading in New York.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS fell by 1.25% or $-2.25/share to $177.93. In the past year, the shares have traded as low as $151.65 and as high as $189.50. On average, 2767780 shares of GS exchange hands on a given day and today's volume is recorded at 1712953.
Humana Inc. (Humana) is a health care company. Humana operates in three segments: Retail, Employer Group, and Health and Well-Being Services. Shares of HUM fell by 1.19% or $-1.585/share to $131.68. In the past year, the shares have traded as low as $90.70 and as high as $135.86. On average, 1169750 shares of HUM exchange hands on a given day and today's volume is recorded at 1043500.
Source
