A team of attorneys represented HealthSpring, Inc. in its February 2012 acquisition by Cigna, Inc., a NYSE-listed global health service and insurance company. We served as lead counsel to the company and its board of directors in a shareholder class action relating to the $3.8 billion buyout of HealthSpring by Cigna Corporation. The acquisition added one million individuals to Cigna’s insurance roster and expanded the company’s presence in the Seniors and Medicare areas. The value of the acquisition was valued at $3.8 billion.
In addition, on the eve of the merger with Cigna, our firm served as lead counsel to deter an expedited internal investigation relating to healthcare fraud allegations being investigated by the Department of Justice (DOJ). Our team convinced the government not to intervene in pending qui tam case and quickly got qui tam case dismissed on motion to dismiss without any discovery.
HealthSpring, Inc. (NYSE: HS) is one of the largest Medicare Advantage coordinated care plans in the U.S.