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.
More articles on payers:
UnitedHealth shares worth 10 times what they were in 2010
‘No guarantee of payment’: Healthcare cost-sharing ministries face growing scrutiny
Former Target CFO takes on same role at health insurance startup Bright Health
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
