HealthSpring has completed its acquisition of Leon Medical Centers Health Plans, a Miami-based Medicare Advantage HMO.
The deal, for $355 million in cash, also includes the consideration of more than 2.6
million shares of HealthSpring common stock. The company entered into a $400 million commitment with Goldman Sachs Partners to secure financing for the deal.
HealthSpring also entered into a long-term-provider contract with Leon Medical Centers, which operates five Medicare-only medical clinics in the Miami area, as part of the deal.
HealthSpring, Nashville, is one of the largest managed-care organizations in the country. Leon Medical Centers Health Plans has more than 25,700 members. -- by Rebecca Vesely
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