Benzinga | Dec 13, 2021 08:37AM EST

Triple-S Management Stockholders Approve Combination With GuideWell

Triple-S Management Corporation (NYSE:GTS) ("Triple-S"), a leading healthcare services company in Puerto Rico, today announced that the merger with GuideWell Mutual Holding Corporation ("GuideWell"), a health solutions company and parent of Blue Cross and Blue Shield of Florida, Inc. ("Florida Blue"), was approved by Triple-S stockholders.

The merger agreement was approved and adopted by approximately 72% of the issued and outstanding shares of Triple-S common stock as of the November 2, 2021 record date for the special meeting of stockholders held on December 10, 2021. A Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission.

The transaction is expected to close by the end of the second quarter of 2022, subject to satisfaction of normal closing conditions and the approval of the Office of the Commissioner of Insurance of Puerto Rico. Upon completion of the transaction, Triple-S will become a wholly owned subsidiary of GuideWell and will continue to operate under the Triple-S brand.