Molina Healthcare Announces the Closing of its Acquisition of Affinity Health Plan

Rhea-AI Summary

Molina Healthcare (NYSE: MOH) announced the closing of its acquisition of Affinity Health Plan on October 25, 2021. As of September 30, 2021, Affinity served approximately 310,000 members. This strategic acquisition aligns with Molina's mission to enhance its managed healthcare services under Medicaid and Medicare, aiming to expand its reach and improve service delivery. Molina Healthcare currently serves about 4.7 million members across various programs.

Positive

• Acquisition of Affinity Health Plan enhances Molina's member base and market presence.
• Affinity Health Plan brings 310,000 members, contributing to Molina's growth in managed healthcare services.

Negative

• None.

LONG BEACH, Calif.--(BUSINESS WIRE)-- Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) announced today that its acquisition of Affinity Health Plan closed on October 25, 2021. As of September 30, 2021, Affinity served approximately 310,000 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 4.7 million members as of June 30, 2021. For more information about Molina Healthcare, please visit molinahealthcare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005642/en/

Investor Contact: Joseph Krocheski, Joseph.Krocheski@molinahealthcare.com, 562-951-8382

Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588

Source: Molina Healthcare, Inc.

FAQ

What is the significance of Molina Healthcare's acquisition of Affinity Health Plan?

The acquisition enhances Molina's market presence and expands its member base, providing greater access to managed healthcare services.

How many members did Affinity Health Plan serve before the acquisition?

Affinity Health Plan served approximately 310,000 members as of September 30, 2021.

When did Molina Healthcare announce the closing of the acquisition?

Molina Healthcare announced the closing of the acquisition on October 25, 2021.

How many total members does Molina Healthcare serve after the acquisition?

After the acquisition, Molina Healthcare serves approximately 4.7 million members.