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Humana to Sell Parts of Texas, Wisconsin Medicaid Operations

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(HUM) - Get Free Report

plans to sell parts of its Texas and Wisconsin Medicaid businesses in a move to focus on developing new products and plans.

The Louisville, Ky., company reached an agreement with

Superior HealthPlan

of Texas and

Managed Health Services

, a unit of


, in St. Louis. The company didn't disclose any financial details of the agreement, which requires the approval of regulators in Texas and Wisconsin.

Humana said it expects Managed Health Services to provide Medicaid services for an additional 40,000 customers in Milwaukee, Waukesha, Kenosha, Racine and Rock counties in Wisconsin, while Superior HealthPlan will provide Medicaid services to an additional 30,000 individuals in Austin and San Antonio.

Shares of Humana lately rose 38 cents, or 2.5%, to $15.31 in composite trading on the

New York Stock Exchange