MemorialCare—the administrative umbrella that houses, amongst other operations, Long Beach Memorial, Community Hospital Long Beach, and Miller Children’s Hospital Long Beach—announced an asset deal it has reached with Long Beach’s Universal Care.
MemorialCare will buy specific assets of Universal and, following an application and received approval, will operate their purchase as Seaside Health Plan, a new California licensed health plan. While the transaction has been green-lit, they are not expecting a full close of their deal until spring of next year.
Affected patients will experience little change in this deal: same doctors, same hospitals. The major change for those under the sold portion of Universal Care is simply greater access to MemorialCare’s extensive medical network under the newly designated Seaside Health Plan, which includes integrated coverage for children and less affluent individuals throughout the greater Long Beach area.
Universal Care’s Brand New Day plans are not included in the deal and will continue to operate unrelated to MemorialCare.
“The new capabilities further our role in population health management, accountable care, medical homes, information technology, best-practice medicine and other elements of health reform,” said Barry Arbuckle, PhD, president & CEO, MemorialCare Health System, in a press release. “They expand our ability to further partner with health plans, employers, hospitals, physicians and providers to better serve patients and local communities.”