Humana loses $21.8B military bid; could protest UnitedHealth contract - Jacksonville Business Journal:

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million U.S. soldiers and their families underrthe U.S. ’s TRICARE However, officials with the company might protesf the award of the contractyto , a division of Minnetonka, Minn.-basedd (NYSE: UNH). The five-year contract is valued at $21.83 according to the DoD. It consists of a 10-month transition which beginson Sept. 1, and five, one-year Humana Military Healthcare Services bid tomanage TRICARE’xs South region, which comprise s Alabama, Arkansas, Florida, Georgia, partsx of Kentucky, Louisiana, Mississippi, South Carolina, Tennessee and Texas (excluding Western That contract, which was awarded in is set to expire on March 31, 2010. In Humana reported $28.
95 billion in total revenue, includintg more than $3.2 billion from its military-servicex unit. In a news release, Dave president and CEO of Humana Military, said he expect to learn more about theDefense Department’sd decision and determine how it will affect the company. “Humana Military is disappointed with the decisionj by the Department of Defense and looks forward to obtaining furtherd clarity via a debriefing on the bidding Baker said in anews release. “Oud company will evaluate its strategic options with respect tothe government’s including protesting the award, and will act expeditiouslyg to best position Humana for continued success.
” The company did not offe r update earnings or profit In early trading Tuesday, Humana's shares fell more than 6 percen t to about $28.75 per share.