United Healthcare Corp. acquires Surgical Care Affiliates spinoff HealthWise of America in a stock deal worth about $290 million. The two health maintenance organizations (HMOs) combine to form one of the largest managed-care companies in the nation, as the deal gives Minnesota-based United Healthcare access to markets that remain largely unpenetrated by HMOs, such as Tennessee, Arkansas, Kentucky, Maryland and Virginia.

HealthWise of America cofounder and CEO Ken Melkus will maintain an active role in Nashville health care for decades, going on to serve as a senior advisor for Welsh, Carson, Anderson & Stowe and on the advisory board for Nashville-based Avondale Partners.