Becker's Healthcare July 26, 2024
Molina Healthcare has more acquisition opportunities in its pipeline, its CEO says.
On July 23, Molina Healthcare said it plans to acquire ConnectiCare, a subsidiary of EmblemHealth, for $350 million.
On a July 25 earnings call transcribed by Seeking Alpha, Molina Healthcare CEO Joseph Zubretsky said the ConnectiCare acquisition is a departure from its previous M&A strategies. Historically, the company has only established marketplace and Medicare lines in areas where Molina already operates Medicaid business.
ConnectiCare operates Medicare, marketplace and some commercial plans in Connecticut.
“While that option is not available to us in Connecticut, a Medicaid fee-for-service state, we believe this is a great opportunity to execute the time-tested Molina M&A playbook: Acquire a stable...
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