The health insurer WellPoint, Inc. this week completed the acquisition of Amerigroup Corp., one of the largest managed-care companies in Florida’s Medicaid program. ellPoint and Amerigroup announced plans for the $4.9 billion deal in July and finished it Monday, according to a WellPoint news release and Securities & Exchange Commission filings.
The Virginia-based Amerigroup has more than 189,000 enrollees in Florida’s Medicaid program, according to information on the state Agency for Health Care Administration website. Amerigroup will operate as a wholly-owned subsidiary of WellPoint and will continue to focus on Medicaid programs across the country.
“The acquisition advances our ability to more effectively and efficiently serve the growing Medicaid population, including the expanding dual eligible, seniors and persons with disabilities, and long-term services and support markets,” said John Cannon, interim president and chief executive officer of Indiana-based WellPoint.
Via The News Service of Florida.