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Baron Funds Comments on AMERIGROUP Corp.

December 07, 2012 | About:

AMERIGROUP Corp. (AGP) is a leading Medicaid HMO. We believed state governments would increasingly decide that placing disadvantaged populations in managed care would produce better health outcomes with greater cost efficiency than in fee-for-service programs. AMERIGROUP's revenue grew from $1 billion in 2002 to $6 billion in 2011, with a 40% increase projected for 2012. On July 9th,Wellpoint, Inc. bid $4.9 billion in cash or $92 per share for AMERIGROUP, a 43% premium to the prior day's close.We sold our investment when the acquisition was announced. (Susan Robbins)

From Baron Funds third quarter letter.


Rating: 3.0/5 (4 votes)

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