Universal American lowers forecast
-
- March
- 7
Universal American Corp. of Rye Brook said this week that its acquisition of MemberHealth Inc. of Cleveland would boost 2008 earnings by 4 to 7 percent, below the 13-15 percent range that the company predicted last spring.
Universal American stock fell on Wednesday when the company said 2008 earnings would range from $1.56 to $1.74 a share, falling below earlier forecasts. The company blamed problems at MemberHealth that went undiscovered before the Rye Brook insurer acquired the pharmacy benefits manager last year.
This entry was posted
on Friday, March 7th, 2008 at 5:19 pm by Jerry Gleeson.
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