Amerigroup sells Virginia health plan to Inova

VIRGINIA BEACH, Va. -- Amerigroup Corp. says it has completed the sale of its Virginia operations to health care provider Inova Health System Foundation.

The Virginia Beach-based company said Friday the move divests all of its managed care operations in Virginia. Financial terms were not disclosed.

The sale also clears the way for health insurer WellPoint Inc.'s proposed $4.46 billion acquisition of Amerigroup.

Amerigroup has more than 2.7 million members in 12 states. The Virginia subsidiary has 55,000 members, including those in government assistance programs such as the Children's Health Insurance Program.

Inova is a not-for-profit company that operates five hospitals in the Northern Virginia suburbs of Washington, D.C.