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Megamergers like that of Aetna-Humana and Anthem-Cigna are facing an uphill battle.
Humana could be left to fend for itself if potential suitors Anthem and Cigna merge with each other instead.
As more former hippies need hip replacements, health insurers from Humana Inc. to WellCare Health Plans Inc. are turning into hot targets.
The $2.8 billion company has also been without a permanent chief executive officer since November, making it more vulnerable to a takeover.