Manatt Closes Major Healthcare Transaction

Manatt closed the sale of the operating assets of Health Plus, one of the largest Medicaid managed care companies in New York City, to Amerigroup, a Fortune 500 company that coordinates services for individuals in publicly funded healthcare programs currently serving more than two million members in 12 states nationwide. Led by Manatt partners Robert D. Belfort, Michael A. Lehmann and Peter F. Olberg, the multi-faceted transaction included lawyers from Manatt’s national healthcare, corporate and not-for-profit tax practices across the country.

Proceeds of the sale will go to support the charitable mission of Health Plus’s parent, Lutheran Medical Center, one of Brooklyn, New York’s leading safety net hospitals.

In a statement, Amerigroup said that the "combined expertise of both health plans in coordinating care for low-income populations, seniors and people with disabilities will support the state in its effort to better manage many of the most vulnerable citizens of New York. We look forward to serving our new members, enhancing collaboration with providers and strengthening our presence in the community."

The health plan will operate as HealthPlus, an Amerigroup Company.

Manatt’s Corporate Practice helps public and private, domestic and international corporations manage every aspect of their businesses. The firm brings to the table the strength of insightful legal counsel as well as practical hands-on industry experience. Firm lawyers have served as executives and in-house counsel with financial institutions, major insurers, large venture capital funds, global infrastructure developers and a variety of technology companies. Manatt provides clients with sound business judgment on issues from capital markets to corporate governance.

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