HealthSpring Inc., (HS) the Nashville operator of Medicare Advantage health plans, agreed to be acquired by Cigna Corp. for $55 a share, or $3.8 billion. Cigna (CI) is the Bloomfield, Conn., insurer. The deal price is a 37% premium to HealthSpring's closing price Friday at $40.16 a share.
HealthSpring's Medicare Advantage plans have 340,000 members in 11 states and it operates a Medicare prescription-drug business with 800,000 customers, the companies said in a Monday statement.
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