Humana Sale Rumors Heat Up

Rumors that Humana could be sold soon gained more momentum over the weekend.

The Wall Street Journal reports that Aetna  has proposed a takeover of the Louisville-based health insurance company. Though the amount of money involved in the deal wasn’t known, Humana is valued at $30 billion.

The newspaper reports that the Louisville-based Humana has "privately offered itself for sale."

The Journal adds:
Humana, based in Louisville, Ky., gets the bulk of its revenue from its business administering the private version of the federal Medicare program. The company is seen as a prize because of its powerful Medicare franchise, which is growing rapidly as baby boomers age into eligibility and opt for these plans, known as Medicare Advantage.
The move comes as many health insurance companies are eyeing mergers. Anthem has proposed a takeover of Cigna, while Cigna is also apparently eying Humana, according to the Wall Street Journal. United Health has also made a takeover approach to Aetna.

Humana is Louisville’s largest publicly traded company by revenue, according to Greater Louisville Inc.