PMA Represents Triple-S Management Corporation in $83 Million Stock Acquisition of American Health
PMA advised Triple-S Management Corporation (Triple-S) and its managed care subsidiary Triple-S Salud, Inc. in their $83 million all-cash acquisition of all the outstanding capital stock of Socios Mayores en Salud Holdings, Inc. (“SMSH”), the parent company of American Health, Inc., a provider of Medicare Advantage services to over 40,000 dual and non-dual eligible members in Puerto Rico. Partners Javier D. Ferrer and Manuel Rodríguez Boissen handled this matter. The transaction, which positioned Triple-S for continued growth in the Medicare Advantage segment, was structured as a reverse triangular merger and closed on February 2011. Triple-S is the leading managed care company in Puerto Rico and an independent licensee of the Blue Cross and Blue Shield Association, holding the exclusive rights to the Blue Cross and Blue Shield name and trademark in Puerto Rico. With approximately 1,000,000 customers, it reaches 30% of Puerto Rico’s population.