Printer Friendly

Molina Healthcare to Acquire Integral Health Plan's Florida Medicaid Assets.

MANews-(C)2009-2015

4 August 2015 - US-based health insurers Molina Healthcare, Inc. (NYSE: MOH) has entered into a definitive agreement to acquire certain assets of the Medicaid business of Integral Health Plan, Inc.'s (d/b/a Integral Quality Care) Integral Quality Care unit, the company said.

As a part of the transaction, Molina's Molina Healthcare of Florida will receive the right to assume Integral's Medicaid members in the state of Florida, certain provider agreements, as well as other assets related to the operation of the Medicaid business.

Molina Healthcare of Florida will fund the transaction with available cash on hand at the parent.

Subject to regulatory approvals and the satisfaction of other closing conditions, the closing of the transaction is expected to occur during 4Q15.

Integral Quality Care is a non-profit, provider-sponsored corporation operating as a provider service network and full-risk health plan.

Molina Healthcare of Florida is contracted with the Florida Agency for Health Care Administration for both the Managed Medical Assistance and Long-term Care components of the Statewide Medicaid Managed Care programme, serving a total of 25 counties under those combined programs.

Its parent, Molina Healthcare, provides managed health care services under the Medicaid and Medicare programmes and through the state insurance marketplaces.

Through locally operated health plans in 11 states across the nation and in the Commonwealth of Puerto Rico, Molina currently serves approximately 3.4m members.

Country: USA

Sector: Healthcare

Target: Integral Quality Care/ Florida Medicaid Assets

Buyer: Molina Healthcare

Vendor: Integral Quality Care

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Agreed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

COPYRIGHT 2015 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Aug 4, 2015
Words:269
Previous Article:Insurance Broker NFP Acquires BWD Group.
Next Article:Masonite International Closes Sale of Door Business in France.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters