Health insurer Cigna plans to acquire HealthSpring, a Medicare Advantage organization, for roughly $3.8 billion, according to a joint news release.
Cigna will buy all outstanding HealthSpring shares in cash at $55 per share, and the transaction is expected to close during the first half of 2012.
HealthSpring has approximately 340,000 Medicare Advantage members throughout 11 states and Washington, D.C. It also has a standalone Medicare prescription drug business with more than 800,000 customers.
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Cigna will buy all outstanding HealthSpring shares in cash at $55 per share, and the transaction is expected to close during the first half of 2012.
HealthSpring has approximately 340,000 Medicare Advantage members throughout 11 states and Washington, D.C. It also has a standalone Medicare prescription drug business with more than 800,000 customers.
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