Back to News

KBL in the News

WellPoint Completes Acquisition of Lumenos
Creates Market Leader in Consumer-Driven Health Care

INDIANAPOLIS, June 9 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP) today announced the completion of its acquisition of Lumenos. Under the terms of the acquisition that was first announced on May 4, 2005, the stockholders of Lumenos will receive $185 million in cash. Lumenos will remain headquartered in Alexandria, Va., as a wholly owned operating division of WellPoint. Chip Tooke will continue in his role as chief executive officer.

"We continue to hear from our customers that they are looking for more innovative approaches to engage in their health and health care and the approach Lumenos has taken in engaging consumers strongly builds upon our own efforts," said Larry C. Glasscock, president and chief executive officer of WellPoint, Inc. "Our focus now is to introduce Lumenos products and services to our members and to further build an industry leading consumer-driven portfolio."

"At Lumenos we created something that has had a positive impact on thousands of consumers' health care. Now it is time to move to the next level, enrolling millions into consumer-driven health care plans. And our partnership with WellPoint will enable us to do that. It is just what is needed to maintain the momentum," said Chip Tooke, chief executive officer of Lumenos.

Lumenos currently serves approximately 214,000 consumers. The transaction will not have an impact on WellPoint's current earnings per share guidance for 2005.

About WellPoint, Inc.

WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. WellPoint, Inc. is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through HealthLink and UniCare. Additional information about WellPoint is available at http://www.wellpoint.com.

About Lumenos

Lumenos® is a pioneer in the Consumer-Driven Health Care industry. The Company's vision is to foster health care that actually cares about health. Lumenos' award winning approach empowers consumers with health accounts (including Health Reimbursement Accounts and Health Savings Accounts), information, services and incentives to become better informed about their health and engage in health-promoting behaviors. The Company's goal is to improve consumers' health outcomes, and by doing so, to achieve long-term consumers' health outcomes, and by doing so, to achieve long-term cost efficiency for employers. Lumenos plans are available in all 50 states and are offered by many Fortune 500 companies. For more information on Lumenos, please visit www.lumenos.com

.


KBL Healthcare Ventures
757 Third Avenue, 21st Floor
New York, NY 10017
(212) 319-5555


| Top | Home | Strategy | KBL Team | Advisory Board |
| Current Portfolio | Prior Investments | News |
| Submit Ideas | Contact Us |

Copyright 2000-2005. KBL Healthcare.