Patient Care Law Weekly
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Mergers & Acquisitions
MedAmerica acquires Blue Cross and Blue Shield of Minnesota long-term care business
January 7th, 2007
MedAmerica Insurance Company announced that it has acquired the long-term care business of Blue Cross and Blue Shield of Minnesota. The transaction is retroactive to April 1, 2006. MedAmerica's acquisition of 4,500 long-term care insurance contracts will provide more than $6 million in annual premium revenue and $500,000 in annual administrative fees. Through this acquisition, MedAmerica reinsures and administers the long-term care insurance business of Blue Cross and Blue Shield of Minnesota. Agencies that are currently licensed to sell Blue Cross and Blue Shield of Minnesota's long-term care coverage will have an opportunity to sell MedAmerica's...
Source: Patient Care Law Weekly (2007-01-07)
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