Mergers & Acquisitions

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Deal Overview

Buyer:
Triple-S Management Corporation
Actual Acquirer:
Triple-S Salud, Inc.
Target:
Socios Mayores en Salud Holdings, Inc.
Deal Type:
Insurance Company
Insurance Sector
Managed Care
Agreement Date:
1/24/2011
Announcement Date:
1/25/2011
Announced Deal Value ($ M):
82.00
Announced Deal Value, As Reported ($ M)
82.00
Status:
Completed
Announced Deal Value Per Share ($ )
NA
Completion Date:
1/31/2011

Consideration Breakout
Cash ($M) 84.8

Deal Pricing Ratios

Announcement Completion
Price / Earnings (x) 5.3 5.4
Price / Book (%) 215.7 222.9
Price / Statutory Net Income (x) NA NA
Price / Earnings (x) 9.13 9.44
Price / Capital & Surplus (%) NA NA
Price / Operating Income (x) 507.9 525.0
Price / Net Premiums Written (x) 0.23 0.23
Deal Terms
Description of Consideration

Triple-S Management Corp. paid approximately $84.8 million in cash to acquire Socios Mayores en Salud Holdings Inc. Target's statutory financials are for American Health Inc.

Percent Acquired (%) 100.00
Accounting Method Acquisition
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Sanders Morris Harris LLC
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Pietrantoni Mendez & Alvarez
Seller Yes McDermott Will & Emery LLP