WellPoint, the largest publicly listed health benefits and insurance company in the US, has entered into a definitive agreement to acquire Lumenos, a provider of consumer-driven health programs.
Lumenos currently offers Health Savings Account plans (HSA) and Health Reimbursement Account plans (HRA) to US clients. Through combining Lumenos’ products with its extensive US wide networks, significant customer base and medical management experience, Wellpoint believes the combined venture will create a clearly distinctive company in the consumer healthcare marketplace.
Under the terms of the agreement, stockholders of Lumenos will receive approximately $185 million in cash, while the acquisition expected to close in the second quarter of 2005, subject to standard closing conditions.
We are committed to continually finding ways for consumers to take a more active role in their health and health care and this acquisition helps us deliver on our commitment, said Larry Glasscock, president and CEO of WellPoint. This acquisition also enables WellPoint to offer our customers more innovative solutions to drive health care consumerism through new products, on-line tools and information.