Detroit Medical Center Buys ProCare Health Plan

Detroit Medical Center announced it has purchased ProCare Health Plan, a Detroit-based Medicaid HMO.

Michigan's Office of Financial and Insurance Regulation approved the acquisition last week. DMC, which is part of Nashville, Tenn.-based Vanguard Health Systems, said the purchase was part of the health system's strategy of "continuing growth" and accountable care.

Terms of the deal were not disclosed, although Vanguard previously said it would purchase ProCare for $6 million plus the value of its net equity. The deal had been in the works for more than two years.

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