Molina to acquire Illinois Medicaid plan for $50M

Molina Healthcare entered into a definitive agreement to acquire all the capital stock of a Medicaid managed care organization in Illinois, the health plan said Jan. 6.

Under the transaction, Molina is assuming the right to serve about 50,000 Medicaid and Managed Long-Term Services and Supports members who are covered through NextLevel Health Partners.

Molina estimates the purchase price of NextLevel Health will be about $50 million, which it intends to fund with available cash.

Pending regulatory approval, Molina expects the deal will occur in early 2020.

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