Molina Healthcare terminated its agreement to acquire all the capital stock of NextLevel Health Partners, a Medicaid managed care organization in Illinois.
Molina ended the agreement due to "the seller's stated unwillingness to close pursuant to the terms of the acquisition agreement," according to an April 14 filing with the Securities and Exchange Commision.
Molina entered into a definitive agreement to acquire all the capital stock of NextLevel Jan. 6. Under the transaction, Molina would have assumed about 50,000 Medicaid and Managed Long-Term Services and Supports members. The deal was estimated to cost about $50 million.