Sierra To Sell W.C. Subsidiary
NU Online News Service, Dec. 1 , 2003, 12:25 p.m. EST?Sierra Health Services Inc., Las Vegas, said it has agreed to sell its workers' compensation subsidiary, California Indemnity Insurance Company Inc., to Folksamerica Holdings Company Inc., for $15.5 million in cash up front and up to $64 million in performance-based payments.[@@]
Sierra hopes to collect the performance-based payments, which will depend on California Indemnity's claims and other expenses, in January 2010.
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