Wrap Text
DSY - Discovery Holdings Limited - Humana to offer industry-leading vitality
wellness and loyalty program to health plan members through joint venture with
South Africa`s Discovery Holdings Ltd.
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
HUMANA TO OFFER INDUSTRY-LEADING VITALITY WELLNESS AND LOYALTY PROGRAM TO HEALTH
PLAN MEMBERS THROUGH JOINT VENTURE WITH SOUTH AFRICA`S DISCOVERY HOLDINGS LTD.
Vitality wellness program recognized as one of the world`s best at motivating
and rewarding healthier living
LOUISVILLE, Ky. and JOHANNESBURG, South Africa -- Feb. 22, 2011 -- In a bold
step to help its health plan members live healthier lives, Humana Inc. (NYSE:
HUM) announced today that it will offer the Vitality wellness and loyalty
program and the program`s wide range of well-being tools and reward-partners
through a joint venture with the program`s parent, Discovery Holdings Ltd. (JSE:
DSY). A key element of the program includes a sophisticated health-behavior-
change model supported by an actuarially sound incentive program.
Under terms of the transaction, Humana will capitalize a new entity, U.S.-based
HumanaVitality, LLC, in which South Africa-based Discovery will hold a 25
percent stake. HumanaVitality will provide Humana members with the tools and
support necessary to help them make healthy choices and achieve lifelong well-
being through access to the comprehensive Vitality wellness solution.
In addition, Humana will acquire a 25 percent stake in the business of The
Vitality Group, Discovery`s U.S. subsidiary, which will continue to offer the
Vitality wellness solution to U.S. employers who may have chosen other insurance
and or wellness company solutions. The joint venture is subject to approval by
the South African Reserve Bank.
"This joint venture fits perfectly with Humana`s consumer-focused strategy that
integrates health, wellness and lifelong well-being as our platform for future
growth," said Michael B. McCallister, Humana`s chairman of the board and chief
executive officer. "HumanaVitality will offer employers and individuals an
integrated, comprehensive wellness solution. It unites Discovery`s wellness
expertise and ability to integrate rewards with health, and Humana`s
demonstrated innovation in consumer engagement that fosters positive behavior
change."
"Discovery is very excited about the potential of our strategic partnership with
Humana. It combines Humana`s brand credibility and scale with Vitality`s
intellectual property and proven track record in consumer-engaged wellness
programs," said Adrian Gore, Discovery Holdings` chief executive officer. "There
is a growing trend toward emphasis on cost-management through wellness and
prevention and this presents a compelling opportunity for HumanaVitality in the
U.S."
HumanaVitality will open its headquarters offices in Chicago this month.
Humana`s Sean Slovenski has been appointed HumanaVitality`s chief operating
officer. Slovenski has many years of experience in health care and well-being,
most recently as chief executive of Hummingbird Coaching Services, a health-
coaching company based in Cincinnati that Humana acquired in 2010. Hummingbird`s
services will also become an integral component of the wellness solution being
offered by Humana.
Discovery Vitality, an international brand, is a science-based wellness solution
that encourages healthy behaviors that reduce long-term health care costs by
rewarding members for improving their health. Established more than 10 years
ago, Vitality has built a comprehensive integrated approach to lifestyle
improvement.
Serving more than 1.9 million people worldwide, Discovery Vitality is the
world`s largest incentive-based health-enhancement program. As documented in
recently published peer-reviewed journals, Vitality has demonstrated
quantifiable success in changing people`s behavior and lowering the economic
costs of chronic illness. Engaged Vitality members experienced lower health care
and chronic disease costs per patient, shorter stays in the hospital and fewer
admissions than the general population.
The use of incentives is pivotal to changing behavior. In 2010 alone, the
program provided its members more than 500,000 flights, nearly 20,000 hotel
stays and 3.5 million movie tickets for meeting lifestyle-modification goals.
About Discovery Holdings
Discovery Holdings (JSE: DSY) is an authorized financial-services provider.
Discovery operates in health-care coverage and life insurance markets in South
Africa and the U.K. through PruHealth and PruProtect, as well as the long-term
savings and investment market in South Africa. Recently, Discovery entered into
an agreement to purchase 20 percent of Ping An Health of China.
Vitality, Discovery`s wellness program, is the largest provider of corporate and
individual wellness initiatives in South Africa, also operating in the U.K. and
the U.S. The company`s core purpose is to make people healthier, and to enhance
and protect people`s lives through financial products that clients need and
want.
About Humana
Humana Inc., headquartered in Louisville, Ky., is one of the nation`s largest
publicly traded health and supplemental benefits companies, with approximately
10.2 million medical members, 7.1 million specialty members, and more than 300
medical centers and 240 worksite medical facilities. Humana is a full-service
benefits and well-being solutions company, offering a wide array of health,
pharmacy and supplemental benefit plans for employer groups, government programs
and individuals, as well as primary and workplace care through its medical
centers and worksite medical facilities.
Over its 50-year history, Humana has consistently seized opportunities to meet
changing customer needs. Today, the company is a leader in consumer engagement,
providing guidance that leads to lower costs and a better health plan experience
throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the Investor
Relations page of the company`s web site at www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases
- Replays of most recent earnings release conference calls
- Calendar of events (including upcoming earnings conference call dates and
times, as well as planned interaction with research analysts and institutional
investors)
- Corporate Governance information
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