Becker's Healthcare July 23, 2024
Molina Healthcare plans to acquire ConnectiCare for $350 million, the company said July 23.
ConnectiCare, a subsidiary of New York City-based EmblemHealth, has around 140,000 members in Medicaid, marketplace and commercial products in Connecticut.
Molina plans to fund the purchase with cash on hand, according to a July 23 news release. The deal is subject to regulatory approval and expected to close in the first half of 2025.
In a news release, EmblemHealth CEO Karen Ignagni said the sale is a “major step to support ConnectiCare’s growth.”
“We believe Molina’s commitment to delivering on the promise of the Affordable Care Act, bringing coverage to so many Americans...
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