WellPoint’s Acquisition of Cerulean Remains On Schedule
Thousand Oaks-based WellPoint Health Networks Inc., one of the state's largest insurers, said that plans to acquire Cerulean Cos., Georgia's largest health insurer, by March 31 remain "on track," the Los Angeles Times reports. A WellPoint spokesperson said that Cerulean shareholders had been mailed proxy statements, and Georgia insurance officials were expected to hold a hearing on the transaction Feb. 12 and 13. WellPoint currently has approximately 7.7 million policyholders and expects to increase enrollment between 6% and 8% this year. The company anticipates premium revenue to increase 16% above last year. In November, WellPoint made a $700 million cash counter bid to Trigon Healthcare Inc.'s offer to pay $500 million in cash and stock for Cerulean (Murphy, Los Angeles Times, 1/30).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.