The company announced that it has signed a non-binding letter of intent to acquire certain managed care assets of La Cruz Azul de Puerto Rico, Inc.
AMERIGROUP Corporation terminated its agreement to purchase a subsidiary of Centene Corporation.
Triple-S Management Corporation announced the conversion of Class A shares and a Class B stock repurchase program.
CMS announced Medicare Advantage and PDP enrollment for the December 2008 effective date.
Centene Corporation appointed Aaron W. Brace as President and Chief Executive Officer of Total Carolina Care, Centene’s South Carolina subsidiary. Coventry Health Care, Inc. recently announced that it has appointed Allen Wise as Executive Chairman of the Board of Directors.
Health plan stocks increased 18.1% for the month of December. All valuation indicators increased last month. Since none of the twelve health plans reported earnings last month, it is reasonable to assume the increase in stock price was driven by improved investor sentiment. The broader market, measured by the S&P 500, increased by 0.8%.
In this month’s analysis, we endeavor to estimate the control premiums in the case of business combinations involving each of the publicly traded companies. To do this, we employ our estimates of economies of scale for administrative expenses based on the results of the Sherlock Expense Evaluation Report.
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