A PYMNTS Company

US: State Regulators green light $6.8 billion health insurance merger

By  |  March 23, 2016

Both of California’s health insurance regulators Tuesday signed off on a $6.8 billion acquisition of Health Net, Inc. by St. Louis, Missouri-based Centene Corp., clearing the way for the deal to close.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The approvals, which followed eight months of sometimes heated negotiations and public hearings, were the final regulatory hurdles standing in the way of the transaction.

    The merger is the smallest of three insurer mergers under review by state regulators. The heads of both regulatory agencies noted that their consent comes with plenty of caveats.

    Health Net, based in Woodland Hills, Calif., must keep its headquarters in the state, and the combined company must spend around $370 million to make improvements in both the quality of care and access to it.

    Full content: CNBC News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.