Merger and acquisition activity continues. Following a major acquisition by Cigna of HealthSpring/Bravo, UnitedHealth agreed to acquire privately held XLHealth, the parent company of Care Improvement Plus (CIP). The terms were not disclosed. UnitedHealth expects the deal to close in the first half of 2012. Here is a link to the story from Reuters.
UnitedHealth is already the largest provider of Medicare Advantage products in the United States and the addition of CIP’s 113,000 members will pad their lead.
CIP specializes in Special Needs products, specifically, Chronic Illness.