CHICAGO: Health insurer Aetna Inc said on Monday that it would buy rival Coventry Health Care Inc for $5.6 billion to increase its share of the fast-growing, U.S. government-backed Medicare and Medicaid programs.
The purchase, which will add more than 5 million members to Aetna's customer ranks and double its business administering the government's Medicaid health plan for the poor, comes just weeks after rival WellPoint Inc struck a deal to buy Medicaid specialist Amerigroup Corp.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!