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Humana Inc. is an American Louisville, Kentucky-based for-profit health insurance company. As of 2014 Humana has had over 13 million customers in the U.S., reported a 2013 revenue of US$41.3 billion, and has had over 52,000 employees. In 2013, the company ranked 73 on the Fortune 500 list, which made it the highest ranked (by revenues) company based in Kentucky. It has been the third largest health insurance in the nation.
The U.S. Dept. of Health and Human Services investigated Humana in 2009 for sending flyers to Medicare recipients that the AARP characterized as deceptive. The company's managed care model has also been criticized for ethical lapses and limitations.
The health insurer Aetna said on Friday July 3, 2015 that it had agreed to acquire its smaller rival Humana for $37 billion in cash and stock.
Company history
1961-1983: Nursing homes and hospitals
Lawyers David A. Jones, Sr. and Wendell Cherry founded a nursing home company in 1961. The company known in 1968 as Extendicare Inc, became the largest nursing home company in the United States. In 1972, Jones and Cherry sold the nursing home chain, to purchase hospitals.
In 1974, the partners changed the corporate name to Humana Inc. It grew in the following years, both by business and in 1978 through the takeover of American Medicorp Inc., which doubled the company's size, and growing into the world's largest hospital company in the 1980s. During the mid-1970s, the company used a fast-track construction process to complete and open one hospital a month. During this period, Humana developed the double corridor model for hospital construction. This design minimized the distance between patients and nurses by placing nursing support services in the interior of the building with patient rooms surrounding the perimeter.
Website www.humana.com
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