Aetna-Coventry Health deal gets OK from Kansas regulator
11/15/2012 12:00 AM
11/14/2012 5:03 PM
Kansas Insurance Commissioner Sandy Praeger has approved Aetna Inc.’s purchase of Coventry Health Care of Kansas, the department announced in a news release on Wednesday.
A public forum and hearing were held on Nov. 5 in Topeka.
Coventry operates in 26 states and must have the approval of regulatory agencies in those states before the acquisition can be finalized.
In August, Aetna announced that it planned to purchase Coventry for $7.3 billion.
Aetna had $57.7 million in premium sales in Kansas and Coventry had $187 million in Kansas premiums in 2011, according to insurance department statistics.
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