A Manatt healthcare team comprised of partners Wendy Krasner, Mark Ustin and Bruce Wolff and associates Karen Lam and Emily Lee represented Aetna Inc. in its acquisition of heath insurer Coventry Health Inc. The team advised Aetna on Medicare and Medicaid managed care regulation.
American Lawyer reported the deal in its September 28, 2012, issue of "Big Deals." It reports that Aetna agreed to pay $5.7 billion in cash and stock for Coventry on August 20. Aetna will also assume $1.7 billion in Coventry debt, giving the deal a total value of $7.3 billion. The acquisition would bolster Aetna's ability to provide government-supported healthcare plans. It is also the largest deal Aetna has conducted since it completed a major reorganization in 2000.
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