LOUISVILLE, Ky., May 6 /PRNewswire-FirstCall/ -- Humana Inc. , 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).
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CONTACT: Tom Noland, Humana Corporate Communications, +1-502-580-3674, ortnoland@humana.com ; or Jackie McQuillan, Virgin Group - International Media,+44 207 229 4738, or Jackie.mcquillan@virgin.co.uk , or Lori Levin, VirginGroup - American Media, +1-609-897-7865, or +1-661-313-0301, orVirginLori@aol.com
Web site: http://www.humana.com/
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