Centene Corp. has signed an agreement to acquire Agate Resources Inc., a Eugene, Oregon-based health care company
Terms of the deal were not disclosed.
Trillium Community Health Plan Inc., which is a subsidiary of Agate, provides Medicaid services in Lane County, Oregon, through Oregon's Coordinated Care Organization model as well as providing coverage to Medicare beneficiaries through a Medicare Advantage plan and participating on the Cover Oregon health insurance marketplace.
Agate's CEO, Terry Coplin, and the company's existing management team will continue to lead Agate's local operations.
"We view the Oregon CCO model as consistent with our philosophy that healthcare is best delivered locally,"Michael Neidorff, chairman and CEO of Centene, said in a statement. "Agate has demonstrated success working closely with providers and key community stakeholders, and we are committed to maintaining that approach in the future."
In operation since 1977, Trillium was first awarded a contract with the state of Oregon to help manage care for the Oregon Health Plan in 1999. Trillium currently serves approximately 87,000 OHP members through the CCO model, which began in 2012. Trillium's Medicare Advantage plan has more than 3,500 members.
The deal is expected to close in the third quarter.