News Headlines Article

Blue Shield’s deal with regulators on $1.2-billion acquisition draws fire
Los Angeles Times

Beleaguered insurer Blue Shield of California won state approval for its $1.2-billion acquisition of a Medicaid health plan, but the nonprofit company’s deal with regulators drew heavy criticism.

The California Department of Managed Health Care said it extracted several key concessions from Blue Shield in an agreement unveiled Thursday.

Ending a high-stakes and lengthy battle, the company agreed to permanently relinquish its longtime state tax exemption.