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Molina Healthcare to Buy Loyola Physician Partners´ Medicaid Programme in Cook County, Illinois
Monday 12 October 2015

12 October 2015 - US-based managed health care services provider Molina Healthcare, Inc.'s (NYSE: MOH) Molina Healthcare of Illinois, Inc unit has agreed to acquire certain assets relating to US-based healthcare network Loyola Physician Partners, LLC's Medicaid business in the State of Illinois, the company said.

As a part of the transaction, Molina Healthcare of Illinois will receive the right to transition Loyola's Medicaid members in Cook County and assume certain assets related to the operation of the Medicaid business.

Molina Healthcare of Illinois will fund the transaction with available cash on hand.

Subject to regulatory approvals and the satisfaction of other conditions, the closing of the transaction is expected to occur in 1Q16.

Loyola, through the Accountable Care Entity Loyola Family Care, provides a medical home for approximately 20,000 members in the Medicaid Family Health program in Cook County.

Molina Healthcare of Illinois currently operates Medicaid and Medicare health plans with total membership of approximately 101,000 as of June 2015.

Additionally, Molina Healthcare of Illinois participates in the Medicare-Medicaid Alignment Initiative in the central part of the state.

MMAI is designed for those eligible for both Medicare and Medicaid and is a joint effort between the Illinois Department of Healthcare and Family Services and the federal Centers for Medicare and Medicaid Services.

Molina Healthcare provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces.

Through its locally operated health plans in 11 states across the nation and in the Commonwealth of Puerto Rico, Molina serves approximately 3.4m members.
Details
Date Published: 12/10/2015
Target: Certain assets relating to Loyola Physician Partners, ´ Illinois Medicaid business
Country: USA
Sector: Healthcare
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Loyola Physician Partners, LLC
Buyer: Molina Healthcare of Illinois
Comment:
Terms of the deal were not disclosed

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