Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance

Florida Company Sells Health Plans

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Jan. 13, 10:37 a.m. – Physicians Healthcare Plans Inc., Coral Gables, Fla., says it has completed the previously announced sale of its Medicaid, Healthy Kids and Summit health coverage programs to AMERIGROUP Corp., Virginia Beach, Va., a company that specializes in managing health care programs for the poor.

AMERIGROUP paid about $180 million for the plans, Physicians Healthcare says.

Physicians Healthcare says it also has sold its Medicare CarePlus health maintenance organization business to Michael Fernandez, former chairman of Physicians Healthcare, and other Physicians Healthcare shareholders.

The Medicare HMO, which will be renamed CarePlus Health Plans, generates about $400 million a year in revenue and provides coverage for 40,000 Florida residents, Physicians Healthcare says.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.