Linklaters’ US team in New York has advised WellPoint Inc, America’s second-largest health insurance company, on its pending $4.9bn acquisition of health insurance rival Amerigroup Corporation.
The deal, which was announced on 9 July, is one of the largest ever all cash deals in the health insurance sector. It will make WellPoint the largest private manager of Medicaid benefits in the US.
The Linklaters team was led by US corporate partner Dan Dufner and associates Michael Deyong and Demetra Karamanos in the firm’s New York office. The team also included US partners Bindu Culas, (executive compensation/employee benefits, NY), Jeff Norton (Banking, NY), Gordon Warnke (tax, NY) and Jeffrey Schmidt (antitrust, NY).
Last month, a Linklaters US team led Dan Dufner also advised WellPoint on its acquisition of 1-800 CONTACTS, Inc. from US private equity firm Fenway Partners and, earlier last year, advised WellPoint on its acquisition of CareMore Health Group from US private equity firm CCMP Capital Advisors.
Dan Dufner, US corporate partner, said:
“I am very excited to have advised WellPoint on this important deal. It comes right on the heels of the US Supreme Court’s decision on the Patient Protection and Affordable Care Act (‘Obamacare’) and will provide extremely strong growth opportunities for WellPoint in the Medicaid and dual Medicare/Medicaid member markets.”
