WellPoint completes deal for Medicaid company
NEWS IN BRIEF — Posted Jan. 21, 2013
WellPoint in late December 2012 officially closed its $4 billion acquisition of Amerigroup Corp., a Medicaid managed care company.
“The acquisition advances our ability to more effectively serve the growing Medicaid population, including the expanding dual eligibility, seniors and persons with disabilities, and long-term services and support markets,” said John Cannon, Wellpoint’s interim president and CEO, in a statement.
With the acquisition of Amerigroup, WellPoint expands its affiliated Medicaid health plans to about 4.5 million beneficiaries of state-sponsored health care programs in 20 states. Total enrollment is 36 million members in all of its affiliated plans.
Amerigroup will operate as a wholly owned subsidiary of WellPoint, according to company officials.