UnitedHealthcare, the insurance unit of UnitedHealth Group, Minnetonka, Minn., completed its purchase of XLHealth Corp., a Baltimore-based Medicare Advantage-focused insurer.
UnitedHealthcare completes XLHealth deal
The two had agreed to an all-cash deal in November, and did not disclose terms.
XLHealth serves 117,000 Medicare Advantage members, operating under the Care Improvement Plus brand in Arkansas, Georgia, Maryland, Missouri, South Carolina and Texas, and under the Care Improvement Plus Medicare Advantage plan name in Illinois, Indiana, Iowa, New Mexico, New York and Wisconsin, according to a news release. The purchase is expected to add approximately $2 billion to UnitedHealth Group’s 2012 revenue.
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