Molina Healthcare to acquire Medicaid Assets of Integral Health Plan, Inc. in the State of Florida

Tuesday, August 04, 2015

Molina Healthcare, Inc. and Integral Health Plan, Inc. announced today that Molina Healthcare of Florida, Inc., a wholly owned subsidiary of Molina Healthcare Inc., has entered into a definitive agreement to acquire certain assets of the Medicaid business of Integral Quality Care. As a part of the transaction, Molina Healthcare of Florida will receive the right to assume Integral’s Medicaid members in the state of Florida, certain provider agreements, as well as other assets related to the operation of the Medicaid business. Molina Healthcare of Florida will fund the transaction with available cash on hand at the parent. Subject to regulatory approvals and the satisfaction of other closing conditions, the closing of the transaction is expected to occur during the fourth quarter of 2015.

Integral Quality Care is a non-profit, provider-sponsored corporation operating as a Provider Service Network (PSN) and full-risk health plan. The Company administers health care services to Medicaid beneficiaries in the following Florida regions: Northwest (Pensacola/Medicaid Region 1, Tampa/Medicaid Region 6) and Southwest (Medicaid Region 8) for more than 90,000 Medicaid enrollees.

“We are proud to welcome the members of Integral Quality Care to Molina, and we look forward to continuing both Integral’s and Molina’s shared mission of providing high quality care,” said Maritza Borrajero, president of Molina Healthcare of Florida. “The acquisition will allow Molina to provide services in seven regions across the state and further demonstrates our commitment to Medicaid, the state of Florida and those in need of government-sponsored health care.”

Jennifer A. Sweet, CEO of Integral Quality Care, added, “Integral is pleased to have established this agreement with Molina Healthcare of Florida, which we expect will continue the Plan’s history of providing compassionate health benefits to our Medicaid members and respectful partnering with the healthcare providers that deliver care to our members.”

 

businesswire.com