Health Net, Inc. (NYSE:HNT) has announced the approval of a share repurchase program with $300 million in aggregate authority. The company’s previous share repurchase program was completed in February 2010. Health Net’s Board approval indicates the company’ confidence in its future and its commitment to the success of its shareholders, according to its president and chief executive officer, Jay Gallert. More information about the repurchase program can be found at www.healthnet.com.
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Health Net, Inc. is among the nation’s largest publicly traded managed health care companies. Its mission is to help people be healthy, secure and comfortable. The company’s health plans and government contracts subsidiaries provide health benefits to approximately 6.1 million individuals across the country through group, individual, Medicare, Medicaid and TRICARE and Veterans Affairs programs. Health Net’s behavioral health subsidiary, MHN, provides mental health benefits to approximately 6.5 million individuals in all 50 states. The company’s subsidiaries also offer managed health care products related to prescription drugs, and offer managed health care product coordination for multi-region employers and administrative services for medical groups and self-funded benefits programs.
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