Universal American Corp. Acquiring APS Healthcare for $227.5 Million, Positioning to Serve Dual Eligibles

On January 11, 2012, Universal American Corp. announced plans to buy specialty care management organization APS Healthcare for $227.5 million to expand its services for patients of government health programs. Universal American is an insurer specializing in Medicare plans; in the announcement said it is “particularly focused on the emerging opportunities to serve dual eligibles.” The acquisition is expected to close by the end of March 2012. Universal American Corp. will pay $147.5 million in cash and $80 million in Universal American Corp. stock, plus up to $50 million in a potential performance-based bonus in 2014 if . . .