VIRGINIA BEACH, Va. - Amerigroup Corp. says it has completed the sale of its Virginia operations to health care provider Inova Health System Foundation.
The Virginia Beach-based company said Friday the move divests all of its managed care operations in Virginia. Financial terms were not disclosed.
The sale also clears the way for health insurer WellPoint Inc.'s proposed $4.46 billion acquisition of Amerigroup.
Amerigroup has more than 2.7 million members in 12 states. The Virginia subsidiary has 55,000 members, including those in government assistance programs such as the Children's Health Insurance Program.
Inova is a not-for-profit company that operates five hospitals in the Northern Virginia suburbs of Washington, D.C.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Clothes have a starring role at the Cannes Film Festival. (Photos)
Which big cat had some trouble coughing this up? (Photos)
"Jenny from the Block" wants you to buy Verizon phones from her.
A Philly bike courier takes his cat on cycling adventures. (Videos)