Humana Inc. has signed a definitive agreement to purchase the Medicare Advantage contract and related assets associated with the Las Vegas, Nev., individual SecureHorizons Medicare Advantage HMO business of UnitedHealth Group for approximately $185 million in cash. The transaction is expected to increase Humana’s Medicare Advantage HMO membership by more than 25,000. Louisville-based Humana ranks as one of the nation’s largest publicly traded health and supplemental benefits companies, with approximately 11.5 million medical members.
Paragon Door Designs Inc., a subsidiary of Keller Manufacturing Co., has acquired the storm door manufacturing assets of Medlin Custom Woodworking Inc. for approximately $100,000. The acquisition of the Richmond, Ind., company adds storm door manufacturing to Paragon’s other production operations in Louisville.
Air Hydro Power Inc., a Louisville company that specializes in hydraulics and pneumatics, has acquired Mosier Fluid Power for an undisclosed price. Mosier, also headquartered in Louisville, is a distributor of factory automation and control products and fluid power components. Thomas F. McGuire, co-owner of Air Hydro Power, said the acquisition will strengthen the company’s relationships with strategic accounts in Kentucky and Indiana.
Four information technology and telecom service providers have consolidated to form Beacon Enterprise Solutions, a new telecom technology firm headquartered in Louisville. Beacon brings together ADSnetcurve, a Louisville application development, management and hosting company; Strategic Communications, a Louisville telecom company; Cetcon, a Cincinnati network design engineering firm; and Bell-Haun Systems, a Columbus, Ohio, company that specializes in business telephone and wireless systems. Beacon provides a range of technology and telecommunications services, from software development and infrastructure design to interconnect voice/data, security and systems integration. Beacon is headed by Bruce Widener, one of the founding employees of UniDial Communications/Lightyear Network Solutions. In addition to its Louisville headquarters, the company operates offices in Cincinnati and Columbus, Ohio, and a satellite office with programmers in India. Beacon has approximately 80 employees, 30 of whom are located in Louisville.
Bellarmine University will be offering a new master’s degree program, beginning this fall. The Master of Arts in Communication will offer the opportunity to specialize in a variety of different areas, including health care communication, convergent new media and strategic communication.
Blue Equity LLC, a Louisville private equity firm, has merged its sports and entertainment properties to form a new company named BEST (Blue Entertainment Sports Television). Company officials say that forming a new entity was the best way to handle combining the many acquisitions and deals that the company has closed over the past 18 months. During that time, Blue has acquired SFX Tennis, SFX Media & Events, Worldwide Football, Blackwave Sports, Team Championships International, Game Seven Sports Marketing, Management Group International and Humarks. “With our diverse capabilities and offerings now housed under a single unit, we are positioning ourselves to be the preeminent entity for athlete and celebrity representation as well as branded content,” said Jonathan Blue, chairman and management director of Blue Equity and chairman of BEST.