Health Net Acquires Sentinel Life Insurance

Health Net, a large Woodland Hills-based health maintenance organization, said it acquired Sentinel Life Insurance Co., a Los Angeles insurer, for $3.7 million.

Health Net said it also bought additional shares of Sentinel stock for $2 million.

The purchase of Sentinel from Prairie States Life Insurance Co. expands Health Net’s product line beyond traditional health care by adding indemnity, life and disability insurance products, Health Net said.

The acquisition was approved by the California Department of Insurance, Health Net said. It plans to change Sentinel’s name to Health Net Life Insurance Co. in the near future.