Under the transaction, Indianapolis-based MDwise’s 360,000-plus members will be served by McLaren Health. The 12-hospital system also sports its own health plan, McLaren Health Plan. Collectively, the two provider-sponsored health plans will cover more than 620,000 lives.
Financial details of the deal were not released. MDwise generates more than $1.5 billion in revenue each year. McLaren will retain MDwise’s Indiana operations.
MDwise’s board of directors decided to seek a buyer earlier this year. In March, MDwise announced it would exit Indiana’s Medicaid program, laying off 79 workers in the process.
The McLaren-MDwise transaction is subject to regulatory review. The deal is slated to reach completion Dec. 31.
More articles on transactions and valuations:
Rice Memorial board OKs partnership with CentraCare, ACMC Health
FTC argues for preliminary injunction to halt Sanford, Mid Dakota merger
Elliot, Southern New Hampshire Health combine to create Solution Health
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
