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Medica to acquire Mayo Clinic's health services administration division

Minneapolis-based Medica, a health insurer, will acquire Mayo Clinic Health Solutions, a division of Rochester, Minn.-based Mayo Clinic.

Mayo Clinic Health Solutions, doing business as MMSI, is a health benefits management company that provides administration services and healthcare products to its members.

The move will affect around 200 MMSI employees who will have the option to work with Medica or transition to other positions at Mayo Clinic, according to ABC 6 News.

"Complementing each organization's strengths is important in this decision," said Kedrick Adkins, Mayo Clinic's CFO. "This new arrangement offers technologies and opportunities to explore that can benefit patients and clients."

The transition will be complete by the end of 2017. Financial details of the deal were not disclosed. 

More articles on transactions and valuations:
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