Cigna, the parent of local Medicare Advantage specialist HealthSpring, has completed the acquisition of several plans with members in Arkansas, Oklahoma and Texas from Arcadian Health and Humana, which are joining forces and were told by regulators to shed some operations. One thing has changed since the parties announced their deal last summer: The Fort Smith market straddling the Arkansas/Oklahoma market has also changed hands, adding 17 counties to the 18 in the original agreement. In all, about 4,500 people are being added to HealthSpring's rolls.
SEE ALSO: Cigna's HealthSpring set to acquire Texas, Arkansas operations from June
HealthSpring, which recently anounced a $3.8 billion deal with CIGNA, has now received early termination of the required waiting period.
they have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Cigna’s pending acquisition of HealthSpring. The early termination of the waiting period under the Hart-Scott-Rodino Act satisfies one of the conditions for consummation of the transaction.
The transaction is expected to close during the first half of 2012 and remains subject to certain other closing conditions, including approval by HealthSpring stockholders and state regulatory approvals.
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