Molina Healthcare Announces the Closing of its Acquisition of Magellan Complete Care

Rhea-AI Summary

Molina Healthcare (NYSE: MOH) has successfully completed its acquisition of the Magellan Complete Care (MCC) business from Magellan Health, Inc. on December 31, 2020. Prior to the acquisition, MCC served around 200,000 members as of November 30, 2020. Molina Healthcare operates managed health care services under Medicaid and Medicare programs and is a FORTUNE 500 company, with approximately 4.0 million members as of September 30, 2020.

Positive

• Acquisition of MCC expands Molina's member base by approximately 200,000 members.
• Strategic alignment in managed health care services under Medicaid and Medicare programs.

Negative

• None.

Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced that its acquisition of the Magellan Complete Care (“MCC”) line of business of Magellan Health, Inc. closed on December 31, 2020. As of November 30, 2020, MCC served approximately 200,000 members.

About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 4.0 million members as of September 30, 2020. For more information about Molina Healthcare, please visit molinahealthcare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210104005045/en/

FAQ

What was the date of Molina Healthcare's acquisition of Magellan Complete Care?

Molina Healthcare closed the acquisition of Magellan Complete Care on December 31, 2020.

How many members did Magellan Complete Care serve before the acquisition?

Before the acquisition, Magellan Complete Care served approximately 200,000 members as of November 30, 2020.

What is the significance of Molina Healthcare's acquisition of MCC?

The acquisition of MCC allows Molina to expand its member base and enhance its managed health care services.

How many members does Molina Healthcare serve now?

As of September 30, 2020, Molina Healthcare served approximately 4.0 million members.