Last Updated: April 21,2016
Information on the Proposed Acquisition of Control of Gundersen Health Plan, Inc. (GHP) by University Health Care, Inc. (UHC), and Unity Health Plans Insurance Corporation (Unity) by Gundersen Lutheran Health System, Inc. (GHS) (UHC and GHS, collectively, the Applicants; GHP and Unity, collectively, the Insurers)
On December 22, 2015, the Applicants filed a Form A with the Wisconsin Office of the Commissioner of Insurance (OCI) relating to the proposed acquisition of control of Gundersen Health Plan, Inc. (GHP) by University Health Care, Inc. (UHC), and Unity Health Plans Insurance Corporation (Unity) by Gundersen Lutheran Health System, Inc. (GHS).
The proposed transaction will be effected through an Exchange Agreement (and other supporting transaction documents submitted as Form A Exhibits), whereby
GHS, the ultimate controlling person of
GHP, will transfer 75% of its membership rights in
GHP to
UHC, and
UHC, the ultimate controlling person of Unity, will transfer 25% of its stock in Unity to
GHS.
GHP was incorporated in 1995 and is organized under ch. 613, Wis. Stat., as a non-stock, not-for-profit health maintenance organization (HMO). Besides
HMO and point-of-service (POS) products,
GHP also offers Medicare Advantage and Medicare Part D prescription drug plans, third-party administrative services, and contracts with the Wisconsin Department of Health Services to provide services to its BadgerCare Plus members.
Unity was incorporated in 1983 and is organized under ch. 611, Wis. Stat., as a stock, for-profit
HMO. Unity offers a variety of
HMO, preferred provider organization (PPO) and
POS health plans to individual and employer groups in the state of Wisconsin.
Notations on Accessing Information
Financial information concerning individual insurance companies, including key annual statement pages, may be accessed on the Consumers Information Source section of the National Association of Insurance Commissioners' Web site at
http://www.naic.org/cis/.
Form A and Exhibits, Filed with the Wisconsin OCI on December 22, 2015:
Wisconsin OCI Form A Follow-up Letters:
Applicant Response Letters and Attachments:
Hearing Documents:
Wisconsin OCI Recommendation Memo:
Final Decision: