AmeriChoice Acquisition of Unison Health Plan Completed - Insurance News | InsuranceNewsNet

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June 2, 2008 Mergers & Acquisitions
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AmeriChoice Acquisition of Unison Health Plan Completed

Business Editors

MINNEAPOLIS, Minn.--(BUSINESS WIRE)--June 2, 2008--AmeriChoice, a UnitedHealth Group (NYSE: UNH) company, today announced it had received all necessary regulatory approvals for its acquisition of Unison Health Plans and the transaction has closed. On a combined basis, AmeriChoice and Unison serve more than two million beneficiaries of government-sponsored health care programs in 21 states and the District of Columbia, including Unison’s operations in Pennsylvania, Ohio, Tennessee, Delaware, South Carolina and Washington, DC.

Unison facilitates access to high-quality, cost-effective health care for traditionally underserved populations through its participation in state Medicaid, State Children’s Health Insurance Programs (SCHIP), Adult Basic Programs and Medicare Special Needs Plans.

Rick Jelinek, chief executive officer of AmeriChoice, said, “We are looking forward to working with the management and staff of Unison, the many fine physicians, hospitals and other health care professionals affiliated with the company and the states it serves to deliver quality health care services to its members.”

Dr. John Blank, M.D., Unison’s president and chief executive officer, said, “Our combination with AmeriChoice is a tremendous opportunity for us to work with one of the most respected public sector health care program companies in the country and will give Unison access to assets and resources that will enable even stronger performance on behalf of our members and state sponsors.”

Unison provides government-sponsored health plan coverage to approximately 380,000 people through a network of 28,000 independent health care providers and a workforce of almost 1,000 employees. Current Unison management and staff will remain in place, and the company will operate under its current name as a subsidiary of AmeriChoice.

Purchase price and other financial terms were not disclosed for this all-cash transaction.

About UnitedHealth Group

UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through seven operating businesses: UnitedHealthcare, Ovations, AmeriChoice, Uniprise, OptumHealth, Ingenix, and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves more than 70 million individuals nationwide.

About AmeriChoice

AmeriChoice, the public sector health care unit of UnitedHealth Group, facilitates access to community-based, culturally-sensitive, quality health care for more than two million beneficiaries of Medicaid, Medicare and Children’s Health Insurance Programs in 21 states across the country. AmeriChoice believes that health care cannot be provided effectively without consideration of the environmental factors that affect a person’s life, and through its unique Personal Care Model, takes a holistic approach to health care, emphasizing practical programs to improve its members’ living circumstances as well as their health. Visit www.americhoice.com for more information.

About Unison

With years of steady growth, Unison has become a leader in public sector health plans, serving approximately 380,000 members and 28,000 providers in Delaware, Ohio, Pennsylvania, South Carolina, Tennessee and Washington, DC. Unison provides high quality, cost effective health care and responsive customer service that empowers its members and providers to work together for better health. For additional information, visit www.unisonhealthplan.com.

Forward-Looking Statements

This news release may contain statements, estimates, projections, guidance or outlook that constitute “forward-looking” statements as defined under U.S. federal securities laws. Generally the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “project,” “will” and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and uncertainties and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors, including Unison’s service and financial performance after the acquisition. We do not undertake to update or revise any forward-looking statements.

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