The Federal Trade Commission granted early antitrust clearance to the $85 million deal by Amerigroup to acquire Health Plus, an insurer, from Lutheran Medical Center.
The deal, first announced in late October, is expected to close in early 2012. Lutheran Medical Center said in October it would create the New York hospital's first endowment with cash from the transaction. Health Plus, which covers about 320,000 enrollees, offers New York Medicaid managed-care, other state health plans and Medicare benefits. Amerigroup, Virginia Beach, Va., said in October that HealthPlus' revenue was expected to reach $1 billion in 2011.