Cooley Reps Bravo Health In $545M HealthSpring Buy

Law360, New York (August 27, 2010, 2:59 PM EDT) -- Insurer HealthSpring Inc. on Friday announced a $545 million cash-and-debt deal to acquire privately held Bravo Health Inc. in an effort to increase its membership rolls and broaden its geographic reach.

The transaction will create the seventh-largest operator of Medicare Advantage plans in the U.S., the companies said.

"This acquisition will extend HealthSpring's reach into new geographies, including an immediate and sizable presence in the Philadelphia market," HealthSpring Chairman and CEO Herb Fritch said. "This transaction will create the largest company in the country focusing exclusively...
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