Health Care Service Corporation (HCSC), which operates Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas, will acquire all of the outstanding shares of MEDecision common stock, valued at approximately $121 million.
The transaction includes consideration paid to holders of outstanding options and warrants, according to the Chicago-based HCSC.
Subsequent to the completion of the acquisition, the Wayne, Pa.-based MEDecision said it will remain an independent company, dedicated to the needs of all health plans and will maintain its own brand identity. The company also said it will continue to pursue development and implementation of its Alineo and Nexalign collaborative healthcare management solutions.
Both companies reported that their boards of directors have unanimously approved the transaction.