COLUMBIA III: COLUMBIA AND VALUE HEALTH SET TO MERGE
Columbia/HCA Healthcare Corp. and Value Health Inc.This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
announced yesterday that Value Health's subsidiary, Value
Behavioral Health of California, has received an order from the
California Department of Corporations allowing finalization of
their proposed merger. The merger, which requires Columbia to
pay $20.50 in cash for each Value Health share of stock, is
expected to be completed this week. Value Health shareholders
approved the transaction on June 18. Value Health is a provider
of specialty benefit programs to large corporations, insurance
carriers, managed care organizations and federal, state and local
governments. Value Health's businesses include pharmacy benefit
management; mental health and substance abuse management;
workers' compensation; disability and group health management;
and disease management (Columbia release, 8/5). Click here for
more information on the deal between Columbia and Value Health.