Stradley Ronon Attorneys Victorious in Historic Appellate Decision Granting the Garden State’s Largest and Oldest Health Insurer, Horizon, to Reorganize Corporate Structure
New Jersey’s appellate court issued an opinion today, May 31, 2023, in a matter concerning a challenge to the reorganization of Horizon Blue Cross Blue Shield of New Jersey, deciding whether the almost a century-old health insurance carrier could reorganize its corporate structure to a mutual insurance holding company. The court unanimously upheld Stradley Ronon’s arguments on behalf of Horizon to reorganize as a mutual holding company saying, “As Horizon correctly noted at oral argument, on the critical issue of membership in the new MHC, the statute controls. For these reasons, based on the facts presented, we are unconvinced the revelation of this information at the public hearings would have led to a different result.”
Andrew I. Hamelsky, partner-in-charge of the firm’s Newark office and member of the firm’s health care litigation team, defended and argued on behalf of Horizon Healthcare Services, Inc. on May 1, 2023. The Stradley Ronon team also included Spencer R. Short and Deenah Sirota.
Stradley Ronon’s arguments focused on how the corporate reorganization will benefit the State, including creating a more modern structure that will allow Horizon to provide better services to their members by partnering with innovative healthcare companies.
Stradley Ronon worked closely with Horizon representatives, state agencies and partners on this landmark application.