WellPoint Completes Acquisition of CareMore Health Group

INDIANAPOLIS, Aug. 22, 2011 /PRNewswire/ -- WellPoint, Inc. (NYSE: WLP) today announced the completion of its acquisition of CareMore Health Group.  CareMore offers Medicare Advantage plans and Special Needs Plans designed for the chronically ill in select California, Nevada and Arizona markets.  CareMore is distinguished by its unique service delivery model and Neighborhood Care Centers. The transaction was announced June 8 and has now been approved by regulators in each of CareMore's markets.

"We are extremely pleased to finalize our agreement even sooner than anticipated," said Angela F. Braly, chair, president and chief executive officer of WellPoint. "This means we can now focus on the most exciting part of the acquisition, which is expanding CareMore's proven system of providing Medicare recipients with high-quality, personalized care that improves their lives and well-being."

CareMore focuses on improving the health of its 54,000 Medicare members through a variety of means, including, most notably, 26 Neighborhood Care Centers staffed with physicians, nurse practitioners, medical assistants, podiatrists, physical therapists, nutritionists, psychologists and case managers. WellPoint is looking to expand CareMore's model both within existing CareMore markets and to WellPoint markets across the country.

CareMore will remain headquartered in Cerritos, Calif., and becomes a wholly owned operating division of WellPoint.

"WellPoint's faith in CareMore's model really validates our work," said Alan Hoops, who will remain as chief executive officer of CareMore. "We look forward to deploying programs like Healthy Start and our Neighborhood Care Centers to benefit more seniors as part of this larger organization."

The transaction is expected to be neutral to WellPoint's earnings in year one, as the company invests in the expansion of CareMore's capabilities to more members, and accretive in years two and beyond.

About WellPoint, Inc.

WellPoint works to simplify the connection between Health, Care and Value. We help to improve the health of our members and our communities, and provide greater value to our customers and shareholders. WellPoint is the nation's largest health benefits company in terms of medical membership, with 34 million members in its affiliated health plans, and a total of more than 69 million individuals served through its subsidiaries.  As an independent licensee of the Blue Cross and Blue Shield Association, WellPoint serves members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin.  In a majority of these service areas, WellPoint's plans do business as Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross and Blue Shield of Georgia, Empire Blue Cross Blue Shield, or Empire Blue Cross (in the New York service areas).  WellPoint also serves customers throughout the country as UniCare.  Additional information about WellPoint is available at www.wellpoint.com.

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SOURCE WellPoint, Inc.