Aflac Agrees To Acquire Florida-based Argus Holdings - Quick Facts

(RTTNews) - Aflac Inc. (AFL) announced Friday that it has agreed to acquire Florida-based Argus Holdings, LLC and its subsidiary Argus Dental & Vision, Inc. (Argus), a premier benefits organization and national network dental and vision company.

Argus services nearly one million dental and vision members, providing benefits management solutions to Medicare Advantage, Medicaid, and Children's Health Insurance Program (CHIP) carriers. It also offers both group and individual network dental and vision insurance plans to employers and individuals.

The transaction will not alter Aflac Incorporated's earnings or capital management outlook for 2019 and is not expected to impact Aflac U.S. sales guidance for the year.

Funding of the transaction is expected to come from available liquidity held at Aflac Incorporated and does not impact the company's policy of holding a minimum of $2 billion in contingent liquidity and capital.

Argus, with a staff of more than 120 employees, will remain headquartered in Tampa, Florida, under the continued leadership of its President and CEO Dr. Nicholas M. Kavouklis. In addition, Tampa, Florida, will now serve as the home for the Aflac U.S. Network Dental and Vision platform.

The transaction, subject to regulatory approvals and customary closing conditions, is expected to close in the fourth quarter of 2019.