Federal antitrust authorities have approved Aetna's proposed $600 million purchase of the nation's largest third-party administrator of health plans, Prodigy Health Group, New York.
Feds OK Aetna plan to buy Prodigy Health
With 600,000 medical members and 450,000 pharmacy members, Prodigy does business under three trade names: Meritain Health for its third-party administration of self-insured health plans, American Health for its medical management side, and Scrip World for its pharmacy-benefits management business.
The current operating and management structure will be retained after Prodigy becomes a business division of the Hartford, Conn.-based insurer, a company news release says. The purchase will be financed with existing resources and is expected to close in the second half of 2011.
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