Independence Holding to acquire 90% of American Independence Corp. (NASDAQ:AMIC)


Dallas, Texas 09/06/2013 (Financialstrend) – Independence Holding company announced that  it has started a tender-offer to buy upto 762,640 common stock shares of American Independence Corp. (NASDAQ:AMIC) at $10.00/share in cash. The expiry date for this tender offer is 2 Oct 2013 unless there is an extension by HIC. If this tender offer gets fully-subscribed, after the tender offer Independence Holding Company and its subsidiaries will own approximately 90% of American Independence Corporation’s common stock.

The latest trading session

American Independence Corp. (NASDAQ:AMIC) stock dropped by 0.20% in Thursday’s trading. The opening price of the shares was $9.78 which rose to an intraday high of $9.85 and closed at $9.71. More than 0.133 million shares were traded on Thursday and the average volume of shares traded over 30 days is 0.487 million. The company has a market cap of $78.38 million.

The company

AMIC is a holding-company. It is primarily involved in reinsurance and health insurance. It provides specialized health-coverage and other related services to individuals as well as to various commercial customers. The company is largely involved in health products. Independence American Insurance Company is its 100% owned subsidiary that markets all its products via IHC Risk Solutions LLC. It products are also marketed by independent brokers, agency subsidiaries, agents and producers. The company is focused on a variety of businesses. These include stop-loss or excess and major medical for families and individuals.

Other businesses

Other businesses include Vision and Dental, Linited Medical, Short-term medical and Group major medical. American Independence Corp. (NASDAQ:AMIC) has a license to write casualty insurance and property insurance. As of 31 December 2011, ICH owned 78.5 percent stake in American Independence Corp. (NASDAQ:AMIC). The latter also owns a 51% stake in, LLC. This is a marketing and insurance agency. In addition, it owns 89.6% in a national career-agent marketing organization, Independent Producers of America, LLC.