Health Net Inc (HNT.N)
* Shares rise as much as 9.6 pct (Adds details from conference call; updates shares)
* Total revenue up 37 pct to $5.51 bln vs est $5.53 bln (Adds details from conference call)
July 28 - Health insurer Centene Corp reported a 79.6 percent jump in quarterly profit as it added 1.3 million members.
July 3 - Health insurer Aetna Inc on Friday said it would buy smaller rival Humana Inc for about $37 billion in cash and stock, in the largest ever deal in the insurance industry.
(The following statement was released by the rating agency) CHICAGO, July 03 (Fitch) Fitch Ratings has placed Health Net Inc.'s ratings on Rating Watch Negative (RWN). The rating action follows Health Net's announcement that it has entered into a definite agreement under which it will be acquired by Centene Corporation (Centene). A full list of rating actions is below. KEY RATING DRIVERS The RWN reflects Fitch's view that key financial leverage metrics will deteriorate after the acquisition
- U.S. health insurer Centene Corp will buy smaller rival Health Net Inc for $6.3 billion, underscoring the healthcare industry's rush to bulk up to negotiate better prices with suppliers and hospitals, and attract new customers. | Video
* Deal to create leader in government health insurance programs