Chicago insurer acquires MEDecision for $121M

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MEDecision is now a wholly owned subsidiary of Health Care Service Corporation (HCSC) of Chicago due to a merger transaction in which MEDecision shareholders received $7.00 per share in cash, or approximately $121 million.

The Wayne, Pa.-based MEDecision has about 250 employees and makes software that insurance companies use to manage the care of subscribers with chronic illnesses, according to HCSC.

At a meeting of shareholders held on Aug. 14, MEDecision’s shareholders adopted the agreement and approved the merger, with holders of approximately 88 percent of the outstanding shares as of the record date voting in favor of the transaction.

“This agreement with HCSC will enable us to further expand our technology development and strengthen our focus on both our independent plan and Blue Cross Blue Shield customers,” said David St.Clair, MEDecision founder and CEO.