Amerigroup Snaps Up Health Plus For $85M

Law360, New York (October 25, 2011, 2:32 PM EDT) -- Health insurance giant Amerigroup Corp. has agreed to buy the operating assets and contracting rights of Medicaid manager Health Plus for $85 million, part of a broader expansion of its presence in New York, the company announced Tuesday.

Amerigroup said it would fund the purchase through available cash, and expected to close in the first half of 2012.

With the purchase, Amerigroup's New York health plan will become one of the largest Medicaid managed care organizations in the state, which has about five million Medicaid recipients....
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