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On February 25, 2008, Sierra Health Services, Inc., a diversified healthcare services organization based in Las Vegas, Nevada, was acquired by UnitedHealth Group. UnitedHealth Group, based in Minnetonka, Minnesota, is an innovative leader in the health and well-being industry, serving approximately 70 million Americans. Through its family of companies, UnitedHealth Group contributes outstanding clinical insight with consumer-friendly services and advanced technology to help people achieve optimal health. While Sierra ceases to be an independent publicly traded company, its legacy companies and the products and services they provide remain unchanged.
As part of the acquisition, UnitedHealth Group agreed to pay $43.50 per share to each Sierra shareholder. (NYSE:SIE) As a condition of approval for this acquisition from the United States Department of Justice, UnitedHealth Group agreed to divest its individual SecureHorizons Medicare Advantage HMO plans in Clark and Nye Counties in Southern Nevada. United completed the divestiture on May 1, 2008 through a sale of this membership to Humana, Inc. Effective, May 1, UnitedHealth Group has begun its operational integration with Sierra.
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