JACKSONVILLE, Fla.--(BUSINESS WIRE)--Florida Blue and AmeriHealth Caritas today announced that Florida True Health, a joint venture of the two organizations to bring best-in-class Medicaid managed care and services to Florida, has entered into a definitive agreement to acquire Prestige Health Choice (“Prestige”). The transaction is subject to regulatory approval.
In 2012, Florida True Health purchased a minority interest in Prestige, a Medicaid health plan that operates in 55 of the state’s 67 counties and currently serves more than 300,000 members. Under the new ownership, the company will remain fully dedicated to its mission of providing quality, affordable care to those most in need in the community, and it will maintain important relationships with its provider network to serve members across the state.
“This transaction is a testament to the shared dedication of Florida Blue, AmeriHealth Caritas and Prestige to provide quality health care and services to Floridians who need it most,” said Chuck Divita, chief financial officer of Florida Blue and a member of the Florida True Health board of directors. “We look forward to serving the state’s Medicaid beneficiaries and continuing our close relationship with the provider community that has helped build a great company in Prestige.”
The new ownership structure will leverage the established expertise of all organizations and provide a strong foundation to address the needs of the Medicaid program.
“We are excited about this opportunity and our partnership with Florida Blue to serve the growing number of Floridians who receive Medicaid benefits,” said Paul A. Tufano, chairman and chief executive officer of AmeriHealth Caritas. “Our shared commitment to providing access to quality health care and services, combined with our deep experience and expertise, will ensure a best-in-class approach to addressing Florida’s health care needs.”
“Prestige has achieved much success over the years,” said Pat Mabe, chairwoman of the board of managers for Prestige. “The new ownership structure reflects our shared commitment to the members we serve and we look forward to continuing to work with the health plan.”
About Florida Blue
Florida Blue, Florida’s Blue Cross and Blue Shield company, is a leader in Florida’s health care industry. Driven by its mission to help people and communities achieve better health, Florida Blue has more than 4 million health care members across the state. An additional 15.5 million people in 16 states are served through its affiliated companies. Florida Blue is a subsidiary of GuideWell Mutual Holding Company, a not-for-profit, policyholder-owned, tax-paying mutual company. Headquartered in Jacksonville, Fla., Florida Blue is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information, visit www.floridablue.com.
About AmeriHealth Caritas
AmeriHealth Caritas is part of the Independence Health Group in partnership with Blue Cross Blue Shield of Michigan. AmeriHealth Caritas is one of the nation’s leaders in health care solutions for those most in need. Operating in 16 states and the District of Columbia, AmeriHealth Caritas serves more than 6.8 million Medicaid, Medicare and CHIP members through its integrated managed care products, pharmaceutical benefit management and specialty pharmacy services, behavioral health services and other administrative services. Headquartered in Philadelphia, AmeriHealth Caritas is a mission-driven organization with more than 30 years of experience serving low-income and chronically ill populations. For more information, visit www.amerihealthcaritas.com.
About Florida True Health
Florida True Health is a joint venture between AmeriHealth Caritas and Florida Blue. It is a health management organization licensed by the Florida Office of Insurance Regulation.