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The Associated Press November 29, 2011, 11:54AM ET

Humana announces deal to buy chronic-care provider

Health insurer Humana Inc. says it is acquiring SeniorBridge, a New York-based chronic-care provider best known for offering in-home care for the elderly.

Terms of the deal were not disclosed Tuesday.

Humana CEO Michael B. McCallister says SeniorBridge fits into Humana's focus on delivering clinical care for seniors in their homes. The acquisition will add SeniorBridge's national network of 1,500 care managers.

Humana is one of the biggest providers of Medicare Advantage plans, which are government sponsored, privately-run programs offering comprehensive health coverage for seniors. SeniorBridge's current focus is private-pay customers, but Humana says it will leverage SeniorBridge's business across its health plan membership.

The Louisville, Ky., company says SeniorBridge's 2011 revenue will total about $72 million.

The transaction is expected to close in the first half of 2012.

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