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Highmark files merger papers

PITTSBURGH — Health insurer Highmark has filed a document with the Pennsylvania Insurance Department relating to its planned $475 million takeover of the West Penn Allegheny Health System, a Pittsburgh-based hospital network.

The department announced the filing on Monday, but said the document won’t be available for review by the public until Wednesday, when it will be posted on the department’s website.

The documents deal with “proposed changes in control of Highmark and its subsidiary insurance entities” that must be vetted for the acquisition to be approved by the state insurance department.

Among other things, the department must determine whether the takeover will lessen competition, be more efficient or whether it will help or hurt customers.

“We will focus on licensure, solvency, business plans and management, as well as the impact the transaction could have on competition and consumers,” state Insurance Commissioner Mike Consedine said in a statement.

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