Transcript: What Aetna executives said about Louisville jobs aft - WDRB 41 Louisville News

Transcript: What Aetna executives said about Louisville jobs after Humana sale

Posted: Updated:

LOUISVILLE, Ky. (WDRB) -- On Monday, Aetna executives gave us a few more details about their plans for reshuffling jobs and responsibilities following their planned $37 billion acquisition of Louisville-based Humana. Or, at least, we got a few more tea leaves to read.

During the nearly hour-long conference call, there were two exchanges with stock analysts that were particularly revelant as to the future of Humana in Louisville following the sale, which won't actually close for at least a year. 

Here are the exchanges taken directly from the official transcipt of the call. You can listen to the call yourself at this link.

Exchange No. 1:

Matthew Borsch - Goldman Sachs - Analyst

Okay, thank you. And also, if I could, on the cost savings that make up the $1 billion, would I be correct in assuming that in addition to the public Company infrastructure that's duplicative, that a lot of this is about the commercial infrastructure in Louisville which will go to Hartford? And the government infrastructure in Hartford that will go to Louisville?

Mark Bertolini - Aetna Inc. - Chairman and CEO

Hi, Matt, Mark. This is really about best-of-breed approach. While we haven't got down to a level of detail, we have some high level assumptions, and there will be more to come on that through time. But you're in the right direction in the way you're thinking about it.

Exchange No. 2:

Tom Carroll - Stifel Nicolaus - Analyst

Hey, good morning. Just a follow-up on Matt's question. When might you consider merging the Louisville infrastructure into the rest of Aetna? It seems like there would be decent synergies there to be gained in future years.

And then as a related question, who will run the government business near term during the integration and then longer term? So will key people stay in place for a period of time? Thanks.

Mark Bertolini - Aetna Inc. - Chairman and CEO

Obviously, until closing everybody stays in place. There are two different Companies to run, and so I don't think anything will happen before closing happens. And then during the time between now and closing we'll put together an operating model that makes sense for both organizations on a best-of-breed approach.

We have said that the Louisville headquarters will be the headquarters for all of our government business going forward. They're very capable people, very capable leadership, and it is our anticipation that that leadership will go forward in managing these businesses.

We want to make sure that we've got the best-of-breed from both Companies. Louisville will be an important site for us and we anticipate, given the size of the revenue that will be in that location, that we'll at least maintain employment, if not increase it.

Copyright 2015 WDRB News. All rights reserved.

Powered by Frankly
All content © Copyright 2000 - 2018 WDRB. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.