VIRGINIA BEACH, Va., Dec. 31, 2008 /PRNewswire-FirstCall/ -- AMERIGROUP Corporation (NYSE: AGP) announced today that it has terminated its agreement to purchase certain assets of University Health Plan, Inc., a wholly-owned subsidiary of Centene Corporation, related to its New Jersey Medicaid line of business. AMERIGROUP exercised its right of termination as a result of certain events that occurred following execution of the agreement.
This termination has no effect on AMERIGROUP's previously announced transaction to sell the assets of its South Carolina health plan to Centene. This transaction is subject to various closing conditions including regulatory approval.
About AMERIGROUP Corporation
AMERIGROUP Corporation, headquartered in Virginia Beach, Virginia, improves healthcare access and quality for the financially vulnerable, seniors and people with disabilities by developing innovative managed health services for the public sector. Through its subsidiaries, AMERIGROUP Corporation serves approximately 1.7 million people in Florida, Georgia, Maryland, New Jersey, New Mexico, New York, Ohio, South Carolina, Tennessee, Texas and Virginia. For more information, visit www.amerigroupcorp.com.
CONTACTS: Investors: Julie Loftus Trudell News Media: Kent Jenkins Jr. Senior Vice President, Senior Vice President, Investor Relations External Communications AMERIGROUP Corporation AMERIGROUP Corporation (757) 321-3597 (757) 769-7859
|SOURCE AMERIGROUP Corporation|
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