Fierce Healthcare June 30, 2021
Anthem has completed its acquisition of MMM Holdings and its affiliates, which offer Medicare Advantage and Medicaid plans based in Puerto Rico.
The insurer first announced that it intended to buy the plans from InnovaCare Health in February. New York-based InnovaCare is an integrated, value-based payer and provider.
The acquisition will add 275,000 Medicare Advantage members and 314,000 Medicaid members to Anthem’s rolls. MMM is the ninth-largest MA plan in the country and Puerto Rico’s second-largest Medicaid insurer. It holds the only 4.5 star MA contract from the Centers for Medicare & Medicaid Services in Puerto Rico.
In addition, MMM’s network includes more than 10,000 providers across Puerto Rico.
“We’re pleased to complete the acquisition of MMM and work with...
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