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Highmark and Independence Blue Cross
U.S. Department of Justice Clears Highmark and Independence Blue Cross Combination for the Second Time
August 3rd, 2008
Highmark Inc. and Independence Blue Cross (IBC) announced that for the second time the U.S. Department of Justice has cleared the proposed combination of the two companies under federal antitrust law. Dr. Kenneth R. Melani, president and chief executive officer of Highmark, said, "We are pleased that the Justice Department, following an updated and thorough review, has reaffirmed that the consolidation will not adversely affect actual or potential competition in Pennsylvania." "Today's decision is an important federal milestone in the regulatory review process," said Joseph A. Frick, IBC's president and chief executive officer. "Now we look forward...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-03)
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