Anthem has closed on its acquisition of Puerto Rico-based MMM Holdings, according to a press release shared with Becker's June 30.
Anthem acquired the company and its Medicare Advantage and Medicaid plans from InnovaCare Health, a payer based in White Plains, N.Y.
MMM is the ninth largest Medicare Advantage plan in the country, with 275,000 members. MMM Healthcare has 314,000 Medicaid members, making it the second largest Medicaid plan in Puerto Rico.
Financial terms of the agreement were not disclosed.