U.S. HEALTHCARE PURCHASE WILL MAKE AETNA NO. 1.Byline: Steve v. t. 1. To pack or stow, as cargo in a ship's hold. See Steeve. Sakson Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Aetna Aetna, volcano: see Etna, Italy. Life and Casualty Co. is buying U.S. Healthcare U.S. Healthcare is a now-defunct healthcare company. The logo had an apple. The merger with Aetna In 1996, the company merged with Aetna, calling it Aetna U.S. Healthcare. The U.S. Healthcare apple logo was next to the Aetna name, and U.S. Healthcare under it. U.S. Inc. in an $8.9 billion deal that will create the nation's biggest provider of health benefits, reaching one in every 12 Americans. Combined, the companies' medical plans cover 23 million people nationwide with such coverage as life, disability, mental health, prescriptions, vision and dental. Of that number, 14 million get full-scale medical coverage. The deal announced Monday represents a clear illustration that traditional health insurance is in irreversible irreversible (ir´ēvur´seb  l),adj incapable of being reversed or returned to the original state. decline, to be replaced by HMOs and other forms of managed care, where U.S. Healthcare is a leader. Although the combined company will retain the Aetna name, it will be managed more like U.S. Healthcare, which is far more profitable. Hartford-based Aetna has been publicly searching for a health care merger partner for six months, planning to shed less profitable insurance lines like auto and homeowner coverage. Within days, Aetna is expected to complete the $4 billion sale of its property-casualty insurance unit to Travelers Group. U.S. Healthcare, based in Blue Bell, Pa., serves 13 Eastern states Eastern States can refer to several locations:
``This merger is a major step in our strategic plan to create an outstanding national health care company,'' said Aetna Chairman Ronald E. Compton, who will also be chairman of the merged company. ``It is an excellent strategic fit and establishes a strong platform for growth.'' Aetna provides full-scale medical coverage to far more people than U.S. Healthcare, 11.3 million compared with 2.8 million. But Aetna earned only $252 million last year on $13 billion in revenues. CAPTION(S): Photo, Chart Photo: (Color) COMPTON Chart: (Color) The Merger Par tners at a Glance Aetna Life and Casualty is buying U.S. Healthcare with money from the sale of its property and casualty business last year. The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times |
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