HealthExec July 23, 2024
Molina Healthcare, a California-based insurer, is purchasing ConnectiCare, a health insurance company in Connecticut, for $350 million.
In an announcement, Molina said the cost represents “25% of expected 2024 premium revenue of $1.4 billion,” adding that the acquisition will bring in new earnings from health insurance exchanges.
While the agreement for the sale is final, it is subject to state and federal regulatory approval before closing. If approved, the acquisition will be completed in early 2025.
Founded in 1981, ConnectiCare serves 140,000 people in the state and its private insurance and Medicare plans are made available on both the...
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