Welcome to our dedicated page for GTS news (Ticker: GTS), a resource for investors and traders seeking the latest updates and insights on GTS stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GTS's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GTS's position in the market.
On February 1, 2022, GuideWell Mutual Holding Corporation completed its acquisition of Triple-S Management Corporation (NYSE: GTS) for $36.00 per share in cash. This acquisition positions Triple-S as a wholly-owned subsidiary under the Triple-S brand, enhancing their collective reach to over 46 million people in 45 states and Puerto Rico. The companies aim to improve health outcomes and affordability in their markets. GuideWell also announced $1.25 million in donations to support health initiatives in Puerto Rico, further demonstrating their commitment to community well-being.
On December 13, 2021, Triple-S Management Corporation (NYSE: GTS) announced that its stockholders approved the merger with GuideWell Mutual Holding Corporation. Approximately 72% of the issued shares voted in favor during the special meeting on December 10, 2021. The merger is expected to close by the end of Q2 2022, pending regulatory approval. Once finalized, Triple-S will operate as a subsidiary of GuideWell while retaining its brand identity. The company serves over 1 million customers in Puerto Rico, leveraging its extensive insurance expertise and provider networks.
Triple-S Management Corporation (NYSE:GTS) reported third quarter 2021 results, highlighting a net income of $8.2 million ($0.35 per diluted share), down from $23.6 million ($1.02 per diluted share) a year earlier. Operating revenue increased by 10.8% to $1.0 billion, driven by growth in Managed Care premiums, notably a 25.4% rise in Medicaid. The consolidated loss ratio rose to 86.2%, reflecting normalized utilization post-pandemic. The company will not provide a fourth-quarter outlook due to a pending transaction with GuideWell Mutual Holding Corporation.
Triple-S Management Corporation (NYSE: GTS), a major healthcare services provider in Puerto Rico, announced significant quality ratings for its Medicare Advantage plans for 2022. The Triple-S Advantage HMO contract received a quality rating of 4.5 stars, while the PPO contract improved to 4 stars. Additionally, the Part D Pharmacy plan achieved a maximum 5-star rating. These ratings highlight the company's commitment to excellence in healthcare services, especially during the pandemic, enhancing access to health services and focusing on holistic care for over 136,000 members.
On Sept. 15, 2021, Abarca announced the renewal of its contract with Triple-S Management Corporation (GTS) for pharmacy benefit management services. This three-year agreement covers Medicare Advantage, Commercial, and Federal Employees Health Benefit Program lines. Abarca has been a partner with Triple-S for nearly a decade, focusing on innovative clinical solutions and medication access. A notable addition to the contract is a new medication reconciliation program to enhance patient safety post-discharge. This collaboration aims to improve healthcare access and outcomes in Puerto Rico.
Triple-S Management Corporation (NYSE: GTS), a healthcare services leader in Puerto Rico, announced significant leadership transitions. Juan Serrano is now President of Managed Care, while Ivelisse Fernandez becomes Chief Growth & Customer Experience Officer. Madeline Hernández-Urquiza, after 36 years in the industry, will retire at the end of October to facilitate a smooth transition. The changes aim to strengthen the company's integrated healthcare strategy, leveraging the extensive experience of Serrano and Fernandez to enhance community health solutions.
GuideWell Mutual Holding Corporation has announced its acquisition of Triple-S Management Corporation (GTS) for $36.00 per share, valuing the deal at approximately $900 million. This represents a 49% premium over Triple-S's average share price. The merger aims to combine resources to enhance health care services in Florida and Puerto Rico, with both companies emphasizing community well-being and improving health outcomes. The transaction is expected to close in the first half of 2022, pending regulatory approvals and shareholder votes.
Triple-S Management Corporation (NYSE:GTS) reported solid second quarter 2021 results amid normalized utilization trends. Net income fell to $23.6 million ($1.00 per diluted share) from $43.6 million ($1.87 per diluted share) year-over-year. Operating revenue rose 15.1% to $1.0 billion, driven by Managed Care premiums, which totaled $909.8 million, a 15.3% increase. The overall loss ratio increased to 85.4%. The company maintains its full-year guidance, expecting consolidated operating revenue of $3.98 billion to $4.02 billion. This includes anticipated Managed Care premiums of $3.58 billion to $3.62 billion.
Triple-S Management Corporation (NYSE: GTS) is set to release its financial results for Q2 2021 on August 5, 2021, before market opening. The conference call will be hosted by CEO Roberto García-Rodríguez and CFO Victor J. Haddock-Morales at 8:30 a.m. ET, with participation available via a dedicated phone line or through a live webcast. The company, a significant player in Puerto Rico's healthcare sector with over 60 years of experience, offers a variety of insurance and managed care products across multiple markets.
AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and Long-Term Issuer Credit Ratings (ICR) of 'bbb+' (Good) for Triple-S Management Group, including Triple-S Salud, Inc. (TSS). The outlook is stable. Triple-S Blue, Inc. (TSB) received a revised outlook to stable, while Triple-S Propiedad, Inc. (TSP) was upgraded to positive. The ratings reflect strong balance sheet strength and adequate operating performance. TSM's low financial leverage and diversified earnings support its stability. However, geographic concentration in Puerto Rico exposes TSP to regulatory challenges.
