This potential merger has been hanging for a few months in Nevada, so big that the Department of Justice was involved...but still subject to approval from the Centers for Medicare and Medicaid services in Nevada...it gets a bit complicated as well with Humana agreeing to buy the Medicare Advantage HMO from United...about 25,000 members under the Secure Horizons HMO plan...so in short United HealthCare now has an even larger market in Nevada with the merging and purchase of Sierra...this has been in the news lately as it could stand to reduce the overall number of insurers in the state and less competition from the policy pricing areas...BD
(RTTNews) - Monday evening, Minnetonka, Minnesota-based UnitedHealth Group Inc. a health and well-being company said it has completed the acquisition of Sierra Health Services Inc. effective as of close of business today. UnitedHealth would acquire all the outstanding shares of Sierra Health for $43.50 per share in cash, valuing the transaction at about $2.6 billion. Under the agreement, a wholly owned subsidiary of UnitedHealthcare, a UnitedHealth Group company, would merge with Sierra Health.
Earlier today, the U.S. Department of Justice conditionally approved UnitedHealth's acquisition of Sierra Health. Under the condition, UnitedHealth Group will have to divest its individual Secure Horizons Medicare Advantage HMO plans in Clark and Nye Counties, which represent about 25,000 members.