In sync with its commitment to create jobs under the "100,000
Jobs Mission" program,
UnitedHealth Group Inc.
) announced its plans to hire 115 new employees at its Chico
operations in California. Currently, the operation's employee
strength is around 385.
A number of leading U.S. companies, including UnitedHealth, are
part of the 100,000 Jobs Mission launched in March 2011 with the
goal of hiring 100,000 transitioning service members and military
veterans by 2020.
), another health insurance company, is also a member in this
The company inaugurated a new office space on Independence Day,
July 4, for the new employees.
UnitedHealth's initiative to create employment opportunities
indicates its continued efforts towards economic development of the
UnitedHealth's presence in the city of Chico dates back to 1998.
The company has been doing significant business in the state of
California and has made investments amounting to $266 million in 45
health care organizations that provide service to less-advantaged
UnitedHealth has been on a recruitment drive. Recently, the
company announced its plans to hire 1500 employees in the state of
Texas. The company will create 115, 250, 800 and 330 new jobs
across four cities namely Harlingen, San Antonio, Irving, and Sugar
Recently, the Government Accountability Office (GAO) confirmed
the U.S. Department of Defense's (DoD) TRICARE Managed Care Support
contract award to UnitedHealth. This TRICARE contract for the West
region would be effective from April 2013.
Under this administrative services contract, the company will
support health care delivery to approximately 2.9 million eligible
beneficiaries who are active duty service members, retirees and
family members based in 21 states of TRICARE's West region. The
contract consists of five one-year option periods and is valued at
UnitedHealth is scheduled to release its second quarter earnings
on July 19, before the market opens. The Zacks Consensus Estimate
for second quarter earnings is pegged at $1.19 per share,
reflecting year-over-year growth of 2.54%.
UnitedHealth currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. We are also maintaining our
long-term Neutral recommendation on its shares.
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