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Health insurer Aetna’s quarterly revenue rises about 5 pct

Health insurer Aetna’s quarterly revenue rises about 5 pct

Health insurer Aetna Inc, whose $34 billion deal for Humana Inc was blocked last week, reported a rise of about 5 percent in quarterly revenue, helped by higher premiums.

The No. 3 U.S. health insurer’s net profit fell to $139 million, or 39 cents per share, in the fourth quarter ended Dec. 31, from $321 million, or 91 cents per share, a year earlier.

The decrease in quarterly net income was primarily due to an increase in restructuring costs, which included a $215 million expense recorded during the quarter related to a voluntary early retirement program.

Total Revenue rose to $15.73 billion from $15.05 billion.

Aetna and Humana have said they will consider all available options for their proposed merger after a court ruled against the deal, saying it would lower competition.

Source: Reuters
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