HealthSpring Inc. Oct 11

  • ID: 1929160
  • October 2011
  • Standard & Poors
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Top 10 national market shares in Medicare Advantage (MA) and Medicare Part D (PDP) based on total membership Tightly managed coordinated care model that has controlled medical costs well historically Good earnings profile based on current and projected operating margins Conservative, liquid investment portfolio Highly concentrated business focus on highly regulated and politically sensitive product segments (MA, PDP, Medicaid) Smaller scale and weaker capitalization versus key national competitors (including UnitedHealth Group Inc. and Humana Inc.) Capital adequacy is good based on regulatory requirements but slightly deficient on a 'BBB' basis, per Standard & Poor's model Weak tangible equity based on large amount of intangibles on balance sheet Active acquisition strategy that could result in higher debt leverage over the medium...

Companies mentioned in this report are: HealthSpring Inc.
Action: Review

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Research Type: Full Analysis

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HealthSpring Inc.

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