Molina Healthcare is expanding in Michigan, it was announced Friday. The company's Michigan subsidiary will acquire HealthPlus Partners’ Medicaid contract and HealthPlus of Michigan’s MIChild contract, allowing the Long Beach-based care provider to help deliver services to 96,000 more patients.
“This strategic move will provide us the needed capital to maintain the HealthPlus brand as well as to strengthen and grow our Medicare and commercial lines of business,” said Nancy Jenkins, president and CEO of HealthPlus of Michigan in a statement.
Healthcare Plus Partners and HealthPlus of Michigan currently arrange for healthcare services for about 90,000 Medicaid and 6,000 MIChild patients.
Molina Healthcare will fund the transaction—expected to take place during the third quarter of 2015—with available cash on hand, after regulatory approvals and other closing conditions are met, officials said.
“This agreement with HealthPlus further reinforces our commitment to the Medicaid and MIChild programs, the state and the local provider community,” said Stephen Harris, president of Molina Healthcare of Michigan in a statement. “We look forward to a smooth transition and delivering on our commitment to provide quality care for our members."
Molina Healthcare recently landed on Business Insider’s list of least stressful companies to work for in 2015, based on data compiled by the employer-information website PayScale.