GuideWell, the parent company of Florida Blue, plans to acquire Triple-S Management, a health care services company in Puerto Rico. The transaction, expected to close in the first half of 2022, is valued at about $900 million. After the transaction closes, Triple-S Management will become a wholly owned subsidiary of GuideWell and will continue to operate under the Triple-S Management brand led by the current management team.
Triple-S Management serves more than 1 million consumers in Puerto Rico, with a strong position in Medicare Advantage, a leading position in Puerto Rico Medicaid and commercial segments. It is the premier insurance and managed care brand, with the largest customer base and broadest provider networks on the island. Triple-S Management has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad portfolio of managed care and related products in the commercial, Medicare Advantage and Medicaid segments. Triple-S Management is also a well-known brand in the life insurance and property and casualty insurance segments in Puerto Rico, with strong customer relationships and a significant market share
GuideWell is a not-for-profit mutual holding company and the parent to a family of companies, including Florida Blue, that are focused on transforming health care. In total, GuideWell companies serve more than 45 million people in 45 states. Florida Blue is a health insurer in Florida, serving more than five million members across all 67 counties in the state.
This was reported by Florida Blue and Triple S Management on August 24, 2021.
Contact information: Farley Kern, Chief Communications Officer, GuideWell Mutual Holding Corp., 4800 Deerwood Campus Parkway, Jacksonville, Florida 32246; 904-905-0683; Email: Farley.Kern@bcbsfl.com; Website: www.floridablue.com
Contact information: Victor J. Haddock-Morales, Executive Vice President and Chief Financial Officer, Triple-S Management, P.O. Box 363628, San Juan, P.R. 00936-3628; 787-749-4949; Website: https://www.triplesmanagement.com/