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TriWest To Contest Contract Awarded To UnitedHealth

DOW JONES NEWSWIRES TriWest Healthcare Alliance Corp. said it will challenge the Defense Department's decision to award UnitedHealth Group Inc. (UNH) a major military healthcare contract, calling the government's process "flawed and unfair." The contract, worth up to $20.5 billion over nearly six years, has belonged to TriWest for 16 years. The new contract, which covers about 2.9 million beneficiaries in Tricare's 21-state West Region, would replace TriWest, a nonprofit that has served the Tricare region for many years, starting in April 2013. "Due to what we discovered in the government's debriefing, TriWest will exercise its legal right to challenge this decision, with the goal of winning back the contract," TriWest President and Chief Executive David J. McIntyre said. A UnitedHealth spokesman was not immediately available for comment after business hours. UnitedHealth had protested and is now taking a contract TriWest won in 2009. Its win in the West offsets a loss in another Tricare territory to rival Humana Inc. (HUM). TriWest said it will contest UnitedHealth's role in the contract because the provider has less experience serving military patients. The nonprofit healthcare alliance also said its price came in significantly below UnitedHealth's, adding the disruption caused by switching contractors could cost taxpayers hundreds of millions of dollars. UnitedHealth shares were recently off fractionally, at $54.93 after hours. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stock News for Uhc (UNH)
DateTimeHeadline
03/22/201706:50:00UnitedHealth Group Schedules First Quarter Earnings Release and...
03/21/201708:35:55Registration Statement for Securities to Be Issued in Business...
03/20/201716:52:43Statement of Changes in Beneficial Ownership (4)
03/17/201717:22:00UnitedHealth Group Announces Extension of Exchange Offer to Acquire...
03/16/201717:03:30Statement of Changes in Beneficial Ownership (4)
03/13/201716:29:08Current Report Filing (8-k)
03/10/201716:04:54Current Report Filing (8-k)
03/09/201716:20:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/09/201713:55:00A.M. Best Assigns Issue Credit Ratings to UnitedHealth Group...
03/09/201712:15:00Norwood Elementary in West Jefferson Awarded $20,000 PLAYMAKERS...
03/09/201706:04:12Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
03/08/201709:00:00AARP Services, UnitedHealthcare Announce Fall Prevention Challenge...
03/08/201708:07:52Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/08/201703:03:00Health Costs Get a Rethink -- WSJ
03/06/201716:54:06Statement of Changes in Beneficial Ownership (4)
03/06/201716:48:00Alliance of Companies Unveil First Steps Aimed at Cutting Health-Care...
03/02/201715:25:00J. Watson Bailey Takes Home Top Prize in 2017 UnitedHealthcare...
03/01/201717:55:00SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation...
02/27/201715:47:00United Health Foundation and Medical College of Wisconsin to...
02/24/201717:03:00Trump to Meet With Insurance Executives on Repeal of Affordable...

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