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
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
