Acquisition minded.Molina Mo·li·na , Mario José Born 1943. Mexican-born American chemist who shared a 1995 Nobel Prize for his work on the chemical processes involved in the formation and decomposition of ozone. Healthcare Inc., the Long Beach-based managed care insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. that has been in expansion mode for several years, closed a deal this month that added 73,000 new Medicaid Medicaid, national health insurance program in the United States for low-income persons; established in 1965 with passage of the Social Security Amendments and now run by the Centers for Medicare and Medicaid Services. members to its rolls. The company bought the accounts from the financially troubled Wellness Plan of Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). , which was taken over by the state of Michigan last year. Molina entered the state a few years ago and now operates in five states. The acquisition marks the third expansion for the company this year. In July it purchased Cimarron Health Plan, entering New Mexico's market for the first time. And in June it acquired Premera Blue Cross Premera Blue Cross is a nonprofit Blue Cross Blue Shield licensed health insurance company based in Mountlake Terrace, Washington. It sells health insurance plans under the Blue Cross license in Washington state except Clark County and under both the Blue Cross and Blue Shield in Washington, where it was already operating. Molina's nationwide membership stands at 791,000 members. The company went public last year and its NYSE-listed stock was trading above $36 a share last week, up from a close of $29.85 on Aug. 12. Staff reporter Laurence Darmiento can be reached at (323) 549-5225, ext. 237, or at ldarmiento@labusinessjournal.com. |
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