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Health Insurance Innovations closes on acquisition

Trading was mixed Tuesday for Tampa-based Health Insurance Innovations, a day after the company closed on the acquisition of data aggregator HealthPocket Inc. for about $32 million in cash and stock.

Headquartered in Silicon Valley, Calif., HealthPocket offers technology on its website that lets consumers review major medical, Medicare, employer-sponsored and other health plans, ranked by price, doctor or hospital provider.

Health Insurance Innovations, which sells short-term and limited medical insurance plans, said Tuesday the deal strengthens its competitive advantage online. Its stock jumped more than 5 percent in early trading Tuesday before closing at $11.98 a share, down about 1 percent.

Health Insurance Innovations closes on acquisition 07/15/14 [Last modified: Tuesday, July 15, 2014 6:32pm]
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