Humana Inc. (NYSE: HUM) announced today it has acquired Harris, Rothenberg International, Inc. (HRI), a provider of work/life services and employee assistance programs. Terms were not disclosed.
HRI currently serves approximately 5.5 million people in the U.S. and another 70,000 internationally. Now in its 31 st year, HRI provides services to employers assisting employees in dealing with personal issues ranging from emotional, financial and legal problems to child/elder care needs to alcoholism and drug abuse. HRI’s services include employee coaching and training.
“Employee Assistance Programs and work-life programs are key elements of Humana’s ‘total well-being’ approach to helping people lead healthier lives,” said Sean Slovenski, leader of Humana’s Health and Productivity Solutions unit. “HRI will help facilitate the expansion of Humana’s EAP and work-life offering – integrating and enhancing many aspects of the offering.”
Additionally, HRI will open a new pathway for growth as Humana creates a product that better addresses 3 rd party and Humana internal customer needs.HRI’s highly customizable offering directs members or their caregivers to value-added services while also offering certain ancillary products that assist employees with day-to-day life issues. The acquisition will support Humana’s efforts to help employer-customers reduce health care spending while also targeting productivity challenges. Loss of productivity due to problems with presenteeism, absenteeism, health issues and disabilities represents up to 10 percent of a typical employer’s payroll expense. 1 “We’re looking forward to helping Humana’s members live healthier lives,” said Edward Trieber, J.D., Ph.D., President and Chief Executive Officer of HRI. “Over the years, we have helped our employer-customers and their employees achieve greater success at work and in life by providing industry-leading employee assistance programs and work-life services.” Humana’s acquisition of HRI is not expected to materially impact Humana’s financial earnings guidance for the year ending December 31, 2012.