AMERIGROUP Terminates Agreement to Purchase New Jersey Medicaid Plan
December 31, 2008
VIRGINIA BEACH, VA – December 31, 2008 – 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.
