MINNEAPOLIS and LAS VEGAS – The planned merger of UnitedHealth Group Inc. (NYSE: UNH) and Sierra Health Services Inc. (NYSE: SIE) has won the approval of Nevada’s Division of Insurance, the companies said today in a joint announcement.

United Health will pay $43.50 per share for the Las Vegas-based health care services company, under the agreement announced March 12. (READ MORE) Sierra’s subsidiaries operate health maintenance and preferred provider organizations (HMOs and PPOs), indeminity insurers, prescription drug plans and medical groups.

“We recognize the value that a local health care company can provide to a community,” UnitedHealth CEO Kenneth A. Burdick said in a statement today. “We will continue to have a strong Nevada presence and build upon Sierra’s reputation as a good corporate citizen.”

According to UnitedHealth CEO Stephen J. Hemsley’s March 12 statement, the company also sees “significant opportunities to learn from [Sierra] and to leverage their expertise in combination with our leading data assets.” And Sierra founder Dr. Anthony M. Marlon added at the time, “We are confident that this combination will generate significant benefits for all of our stakeholders.”

The $2.6 billion cash transaction is expected to close by the end of the year, subject to federal regulatory approval and other customary conditions.

UnitedHealth Group (NYSE:UNH) has six operating businesses – UnitedHealthcare, Ovations, AmeriChoice, Uniprise, Specialized Care Services and Ingenix – serving more than 70 million people nationwide. Additional information is available at www.unitedhealthgroup.com.

Sierra Health Services Inc. serves more than 860,000 people through employer, government and individual health benefit plans. To learn more, visit www.sierrahealth.com.