News Column

Wellpoint Completes Buyout of Amerigroup

Dec. 27, 2012

Amy Jeter and Dave Mayfield, The Virginian-Pilot

WellPoint Inc. has completed its $4.9 billion acquisition of Virginia Beach-based Amerigroup Corp., the companies said in SEC filings. The deal closed Monday after clearing all state and federal regulatory hurdles.

Amerigroup stockholders approved the $92-a-share buyout in October. To avoid potential antitrust concerns, Amerigroup sold its Virginia HMO to Inova Health System.

Amerigroup manages health care for people insured through government programs, serving more than 2.7 million people in 12 states. Indianapolis-based WellPoint said Amerigroup will continue to operate as an independent subsidiary. Amerigroup employs about 2,300 people in Hampton Roads.



Source: (c)2012 The Virginian-Pilot (Norfolk, Va.) Distributed by MCT Information Services