Healthcare DIVE July 24, 2024
The acquisition, expected to close in the first half of 2025, will bring the health insurer into Connecticut.
Dive Brief:
- Molina Healthcare has entered into a definitive agreement to buy Connecticut payer ConnectiCare for $350 million, the insurer said Tuesday.
- ConnectiCare, a subsidiary of New York-based nonprofit health plan EmblemHealth, serves about 140,000 beneficiaries across Affordable Care Act marketplace and Medicare plans, as well as certain commercial offerings, according to a press release.
- The acquisition, which is expected to close in the first half of 2025, will bring a “well-rounded” government-sponsored health plan and a new state market, Connecticut, into the insurer’s portfolio, Molina CEO Joe Zubretsky said in a statement.
Dive Insight:
The deal...
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