AMERIGROUP Completes Transaction to Acquire MethodistCare's Medicaid Line of Business.Business Editors & Health/Medical Writers VIRGINIA BEACH, Va.--(BW HealthWire)--Nov. 19, 2001 AMERIGROUP Corporation (Nasdaq/NM:AMGP AMGP antimicrobial growth promoters. ) announced today that its Texas subsidiary, AMERIGROUP Texas, Inc., has completed its transaction with MethodistCare to acquire the Company's Houston-area STAR (Medicaid) HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, product. The acquisition was completed after all approvals from Texas regulators were received. The acquisition includes the transition of approximately 18,000 MethodistCare STAR health plan members in Harris and surrounding counties from MethodistCare to AMERIGROUP Texas or another health plan depending on the member's choice. Financial terms of the deal were not disclosed. The effective date of the transaction is scheduled for January 1, 2002. Both AMERIGROUP Texas and MethodistCare have and will continue to work closely with the Texas Health and Human Service Commission to ensure a smooth transition of membership. Currently, AMERIGROUP Texas is responsible for the health care coverage of approximately 206,000 members in their STAR, CHIP (Children's Health Children's Health Definition Children's health encompasses the physical, mental, emotional, and social well-being of children from infancy through adolescence. Insurance Program) and STAR+PLUS (SSI (1) See server-side include and single-system image. (2) (Small-Scale Integration) Less than 100 transistors on a chip. See MSI, LSI, VLSI and ULSI. 1. (electronics) SSI - small scale integration. 2. ) products, of which approximately 100,000 are in Houston. Headquartered in Virginia Beach, Virginia Virginia Beach is an independent city located in the South Hampton Roads area in the Commonwealth of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated , AMERIGROUP Corporation is a multi-state managed health care company focused on providing health care benefits to people eligible to receive Medicaid, Children's Health Insurance Program, and FamilyCare benefits. The Company operates in Illinois, Maryland, New Jersey, Texas and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and, as of September 30, 2001, serves approximately 455,000 members. Visit www.amerigroupcorp.com for more information. |
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