JUDGE APPROVES WELLPOINT SETTLEMENT - 01/04/05
Judge Moreno's order has approved the terms of the Wellpoint Settlement. Click here to view the order.
UnitedHealth-PacifiCare
$9.2 Billion Merger Receives All Regulatory Approvals - 01/04/06
Article from Am Best
Online
UnitedHealth
Group said it received all necessary approvals to complete its $9.2 billion
acquisition of PacifiCare Health Systems Inc.
However, the U.S. Department of Justice said it is requiring the companies to
divest portions of PacifiCare's commercial health insurance business in
Tucson, Ariz., and Boulder, Colo., in order for the merger to proceed. The
justice department also is requiring UnitedHealth to modify and, after one
year, end its network access agreement with Blue Shield of California. As
originally proposed, the deal likely would have resulted in higher prices and
lower quality commercial insurance plans, the justice department said.
Mark Lindsay, a spokesman for UnitedHealth, told BestWire the issues that the
justice department raised have been resolved.
The justice department said its antitrust division filed a civil lawsuit Dec.
20 in federal district court in Washington, D.C., to block the proposed
merger, but at the same time, simultaneously filed a proposed consent degree,
that, if approved by the court, would resolve its competitive concerns and the
lawsuit.
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