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Aetna Raises Year View to Reflect Completed Coventry Health Buy

Aetna Inc. (AET) raised its full-year guidance to reflect its completed acquisition of the managed-health-care company Coventry Health Care Inc.Aetna's revenue has improved over the past year as membership grows and the company looked to bolster its presence in government-financed health care by buying Coventry in a cash-and-stock deal worth $5.7 billion when announced in August.The company raised its operating earnings estimate to between $5.70 and $5.85 a share from last month's forecast of $5.50 to $5.60 a share.The acquisition adds about 3.7 million medical members and 1.5 million Medicare Part D members.Aetna also said its Medicaid business has grown to more than 2 million members from 1.1 million members and its Medicaid footprint has expanded to 16 states from 12.Aetna plans to provide further projections for the combined company in a conference call scheduled for Tuesday at 5 p.m. EDT.The company reported last month its first-quarter earnings declined 4.1%, partly because of co...

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