Ramsay-HMO announced that its stockholders have approved the acquisition of the southern Florida HMO by United HealthCare Corp.
Under terms of a merger agreement reached in February, the purchase price will be about $507 million.
Ramsay will become a unit of Minnetonka, Minn.-based United HealthCare. Coral Gables-based Ramsay serves 177,000 enrollees.
Its acquisition will give United entry into the Florida market. Ramsay caters primarily to the Cuban populations in Miami, Fort Lauderdale and Palm Beach. It recently announced it would expand its Medicaid operations into Orlando.