A PYMNTS Company

US: Aetna-Humana deal clears key antitrust hurdle

 |  February 16, 2016

Aetna said it has “secured 10 of the 20 state approvals required” to complete its $37 billion purchase of Humana to form one of the nation’s largest health insurance companies, but the US Justice Department may still “require divestitures,” the company confirmed.

Aetna said its latest state approval came from the state of Florida’s office of insurance regulation, which is a key regulatory body given the population and number of people in Medicare health plans for elderly Americans. Humana HUM and Aetna have large businesses that cover seniors with Medicare benefits.

“Florida’s evaluation was based on a thorough review of the competitive environment in the state,” Aetna said in a statement released Monday afternoon on the Presidents Day holiday. “We are pleased that in its review, the OIR recognized how traditional Medicare competes with Medicare Advantage plans, and that consumers have robust choice in a competitive landscape.”

Full content: Forbes

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