Two innovators breathe new life into health care
LOUISVILLE, Ky., May 6 /PRNewswire-FirstCall/ -- Humana Inc. (NYSE: HUM),
one of the nation's largest health benefits companies, and Virgin, the global
consumer brand, announced today that they have formed a business alliance.
Both companies described their initial joint project -- the development of
a Virgin-branded and Humana-administered individual health insurance product
tied to Virgin's health and fitness reward program -- as the beginning of a
long-term partnership.
Through the joint project, Humana will be one of the initial business
partners for a new, U.S.-based Virgin company, Virgin life care. The
individual insurance product is the first of a series of health-related
initiatives developed by Virgin life care.
"From music to airlines to mobile telephony, Virgin gives customers the
power to choose and use innovative products that they really want. Humana has
done the same in health benefits," said Michael B. McCallister, president and
chief executive officer of Humana. "Virgin life care will create products and
services for health care consumers that are liberating, life-enhancing and
fun. We at Humana are delighted to be part of this exciting new development."
Sir Richard Branson, chairman of Virgin, commented: "With the development
of our new company, Virgin life care, we believe that we can offer consumers
great innovative products and services, at the right prices. Virgin life care
will help our customers get a better deal from health insurers while
monitoring and improving their own fitness. With this healthcare alliance
with Humana, we'll give customers the value they've been asking for."
In a joint statement, the two companies said that the new individual
insurance product, scheduled to launch in early 2006, "represents a
groundbreaking effort in championing the customer, and a new day for people
seeking innovative ways to stay healthy and fit."
Humana will be hosting a news conference with Sir Richard Branson and Mike
McCallister at noon EDT regarding the alliance. To listen live to the news
conference, dial (888) 625-7430.
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's
largest publicly traded health benefits companies, with approximately 7
million medical members located primarily in 15 states and Puerto Rico.
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 44-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 http://www.humana.com ,
including copies of:
- Annual report to stockholders;
- Securities and Exchange Commission filings;
- Most recent investor conference presentation;
- Quarterly earnings press releases;
- Audio archive of most recent earnings release conference call;
- Calendar of events (includes upcoming earnings conference call dates,
times, and access number, as well as planned interaction with
institutional investors);
- Corporate Governance Information.
About Virgin
Virgin, a leading branded venture capital organization, is one of the
world's most recognized and respected brands. Conceived in 1970 by Sir
Richard Branson, the Virgin Group has gone on to grow very successful
businesses in sectors ranging from mobile telephony, to transportation,
travel, financial services, leisure, music, holidays, publishing and
retailing. Virgin has created more than 200 companies worldwide, employing
approximately 35,000 people, in 29 countries. Revenues around the world in
2003 exceeded 4.5 billion pounds Sterling (US$7.9 billion).
SOURCE Humana Inc.
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CONTACT:
Tom Noland, Humana Corporate Communications,
+1-502-580-3674, or tnoland@humana.com ; or Jackie McQuillan,
Virgin Group - International Media, +44 207 229 4738, or
Jackie.mcquillan@virgin.co.uk , or Lori Levin, Virgin Group -
American Media, +1-609-897-7865, or +1-661-313-0301, or
VirginLori@aol.com
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