Triple-S Management Stockholders Approve Combination with GuideWell

Triple-S Management Corporation, 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.

About Triple-S Management Corporation 

Triple-S, a health services company, serves more than 1 million customers in Puerto Rico, which represents nearly one-third of the island’s population. With over 60 years of experience, it is the premier insurance and managed care brand, with the largest customer base and broadest provider networks on the island. Triple-S has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad portfolio of managed care and related products in the commercial, Medicare Advantage and Medicaid segments. Triple-S is also a well-known brand in the life insurance and property and casualty insurance segments in Puerto Rico, with strong customer relationships and a significant market share. For more information about Triple-S, visit www.triplesmanagement.com or contact investorrelations@ssspr.com. 

About GuideWell

GuideWell is a not-for-profit mutual holding company and the parent to a family of forward-thinking companies focused on transforming health care. The GuideWell organization includes Florida Blue, the leading health insurance company in Florida; GuideWell Health, a portfolio of clinical delivery organizations; GuideWell Venture Group, a portfolio of companies, including Onlife Health and PopHealthCare, focused on creating human-first and innovative health solutions for health plans; GuideWell Source, a provider of administrative services to state and federal health care programs; and WebTPA, a market leading administrator of self-funded employer health plans. In total, GuideWell and its affiliated companies serve more than 45 million people in 45 states. For more information, visit www.guidewell.com.

About Florida Blue

Florida Blue, Florida’s Blue Cross and Blue Shield company, has been providing health insurance to residents of Florida for more than 75 years. Driven by its mission of helping people and communities achieve better health, the company serves more than 5 million health care members across the state. Headquartered in Jacksonville, Fla., it is an independent licensee of the Blue Cross and Blue Shield Association.

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