Molina to acquire New York Medicaid plan for $380M

Molina Healthcare entered into a definitive agreement to buy most of Affinity Health Plan's assets for about $380 million, the insurer said Sept. 29.

Affinity, a managed Medicaid health insurer in New York, serves about 284,000 members and has annual premium revenue of about $1.3 billion. 

The Affinity acquisition is the latest in a line of managed Medicaid health insurers that Molina has struck deals with this year. YourCare Health Plan, a Medicaid plan also in New York, was acquired by Molina in July. In September, Molina closed a deal to acquire Passport Health Plan's Medicaid and dual-eligible special needs plan assets.

More articles on payers:
BCBS of Michigan offers buyouts to 8,500+ employees
BCBS insurers reach tentative $2.7B deal over antitrust case
Independence Health Group CEO to retire

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Content

Featured Webinars

Featured Whitepapers