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.

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