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Molina Healthcare Announces the Closing of its Acquisition of Bright Healthcare's California Medicare Business LONG BEACH, Calif.--(BUSINESS WIRE)

Tuesday, January 2, 2024 1 min read
Key Takeaway: Molina Healthcare has successfully closed its acquisition of Bright Healthcare's California Medicare business as of January 1, 2024. This acquisition includes over 109,000 members, significantly boosting Molina's reach in the Medicare market. Molina Healthcare, a FORTUNE 500 company, continues to enhance its services under the Medicaid and Medicare programs with this strategic move.

Market Sentiment Analysis

POSITIVE FACTORS

  • Molina Healthcare expands its member base by acquiring Bright Healthcare's California Medicare business.
  • The acquisition adds over 109,000 new members to Molina's service portfolio.
  • This strategic move enhances Molina's presence in the Medicare sector.

Full Press Release Details

Molina Healthcare Announces the Closing of its Acquisition of Bright Healthcare's California Medicare Business

LONG BEACH, Calif.--(BUSINESS WIRE)--January 2, 2024--Molina Healthcare, Inc. (NYSE: MOH) today announced that its acquisition of Bright Healthcare's California Medicare business closed effective as of January 1, 2024. At closing, Bright
Healthcare's California Medicare business served more than 109,000 members.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served
approximately 5.2 million members as of September 30, 2023. For more information about Molina Healthcare, please visit molinahealthcare.com.

Contacts

Investor Contact: Joseph Krocheski, Joseph.Krocheski@molinahealthcare.com, 562-549-4100
Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588

Frequently Asked Questions

When did Molina Healthcare acquire Bright Healthcare's Medicare business?

Molina Healthcare's acquisition closed on January 1, 2024.

How many members did Bright Healthcare serve in California?

Bright Healthcare's California Medicare business served over 109,000 members.

How many members does Molina serve as of September 2023?

Molina Healthcare served approximately 5.2 million members.

What programs does Molina Healthcare provide services under?

Molina provides managed services under Medicaid, Medicare, and state marketplaces.

Tags: MOH Viatris Investor Conferences Healthcare Molina Healthcare Bright Healthcare California Medicare Medicare business
Last updated: Jan 2, 2024