WellPoint health insurers acquire rival Amerigroup
11th July 2012
One of the most powerful health insurance bodies in the US, WellPoint, has asked the New York office of a London-headquartered legal firm to give advice on its acquisition of Amerigroup, formerly a rival company.
The insurance industry on the other side of the Atlantic has been shaken up in recent weeks, with Barack Obama’s controversial healthcare coverage proposals upheld as lawful by the Supreme Court, which is sure to have major consequences for the American companies concerned.
The deal – which ranks amongst the most lucrative of its kind to ever be completed - saw solicitors with some of the top lawyer jobs in the city oversee a transaction worth around $4.9bn (£3.2bn), which has come swiftly after WellPoint also bought out CareMore Health last year for roughly $800m (£516m).
This latest takeover reflects the continuing ambition of WellPoint, which will now become the largest Medicaid benefit provider in the country.