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HealthSpring buying Florida HMO

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Published: May 30, 2006 at 1:34 PM
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VERO BEACH, Fla., May 30 (UPI) -- HealthSpring Inc. will pay $50 million to buy America's Health Choice Medical Plans Inc., a Vero Beach, Fla., health maintenance organization.

The HMO, which had 2005 revenues of about $150 million, runs Medicare Advantage health plans in Brevard, Broward, Indian River, Martin, Okeechobee, Palm Beach and St. Lucie counties in Florida.

The all-cash deal is set to close no later than early fourth quarter.

© 2006 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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