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Fortis, Inc., announced last week it has completed its acquisition of John Alden Financial Corp. , an independent provider of small group health insurance and managed care services. Under the terms of the agreement, Fortis paid approximately $575 million in cash for John Alden, which includes all outstanding common shares (at $22.50 per share) and all outstanding preferred shares. Miami-based John Alden will become part of Fortis Health, a Milwaukee-based business of Fortis, Inc., which provides small group and individual health insurance products. This acquisition has a combined value of approximately $1 billion.