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Amerigroup to Sell Va. Unit Separately from Wellpoint Deal

The health insurer will sell its Virginia unit to Inova as the company as a whole goes to Wellpoint.

Amerigroup Corporation (Virginia Beach, Va.) will sell Amerigroup Virginia, Inc. to Inova (Falls Church, Va.), conditioned on the closing of the sale of the rest of the company to Indianapolis-based Wellpoint.

The transaction will divest all of Amerigroup's managed care operations in the Commonwealth of Virginia. Amerigroup and WellPoint each received a request for additional information (second request) from the United States Department of Justice (DOJ) in connection with the DOJ's review of WellPoint's pending acquisition of Amerigroup. The second request focuses on Amerigroup's operations in the Commonwealth of Virginia, and both Amerigroup and WellPoint "have worked and continue to work cooperatively with the DOJ staff and representatives of the Commonwealth of Virginia," according to a statement.

The Virginia sale will not require any change of terms or amendment to the WellPoint merger agreement. It is expected to close concurrently with the WellPoint acquisition of Amerigroup, which is on pace for the fourth quarter of this year.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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