Molina Healthcare to Acquire Integral Health Plan's Florida Medicaid Assets.
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.
Target: Integral Quality Care/ Florida Medicaid Assets
Buyer: Molina Healthcare
Vendor: Integral Quality Care
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed