Add-on Acquisition • Insurance

WellPoint Health Networks Acquires Cobalt

On June 4, 2003, WellPoint Health Networks acquired insurance company Cobalt for 906M USD

Acquisition Context

This is WellPoint Health Networks’ 2nd transaction in the Insurance sector.
This is WellPoint Health Networks’ largest (disclosed) transaction.
This is WellPoint Health Networks’ 2nd transaction in the United States.
This is WellPoint Health Networks’ 1st transaction in Wisconsin.

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M&A Deal Summary
Date	June 4, 2003
Target	Cobalt
Sector	Insurance
Buyer(s)	WellPoint Health Networks
Deal Type	Add-on Acquisition
Deal Value	906M USD

Target Company

Cobalt

Milwaukee, Wisconsin, United States

Cobalt Corporation is the holding company of Blue Cross and Blue Shield United of Wisconsin.

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Buyer Overview 1

Buyer

WellPoint Health Networks

Thousand Oaks, California, United States

Category	Company
Founded	1992
Sector	Insurance
Employees	19,100

DESCRIPTION

WellPoint Health Networks, Inc. is a provider of health insurance services.

Deal Context for Buyer	#
Overall	2 of 2
Sector: Insurance	2 of 2
Type: Add-on Acquisition	2 of 2
State: Wisconsin	1 of 1
Country: United States	2 of 2
Year: 2003	1 of 1
Size (of disclosed)	1 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2000-11-30	Cerulean Cos. Georgia, United States Cerulean Cos. is the parent of Blue Cross & Blue Shield of Georgia.	Buy	$700M

DATE

TARGET

DEAL TYPE

VALUE

2000-11-30

Cerulean Cos.

Georgia, United States

Cerulean Cos. is the parent of Blue Cross & Blue Shield of Georgia.

Buy

$700M

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