-

Molina Healthcare Announces the Closing of its Acquisition of Passport’s Medicaid Plan Assets

LONG BEACH, Calif.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced the closing of its acquisition of certain assets related to the Medicaid line of business of Passport Health Plan, Inc. (“Passport”). In addition, Passport’s Medicaid contract with the Commonwealth of Kentucky has been novated to Molina. Effective September 1, 2020, Molina Healthcare of Kentucky, Inc. will provide Medicaid managed care benefits to Medicaid members that were previously being served by Passport. As of August 1, 2020, Passport served approximately 315,000 Medicaid members in Kentucky.

In addition to the acquisition of Passport’s Medicaid contract, Molina acquired and will utilize the Passport name, a well-known brand in Kentucky, and has agreed to hire approximately 500 Kentucky-based Passport and Evolent Health employees.

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 3.6 million members as of June 30, 2020. For more information about Molina Healthcare, please visit molinahealthcare.com.

Contacts

Investor Contact:
Julie Trudell, 562-912-6720

Media Contact:
Caroline Zubieta, 562-951-1588

Industry:

Molina Healthcare, Inc.

NYSE:MOH
Release Versions
English
$Cashtags
$MOH

Contacts

Investor Contact:
Julie Trudell, 562-912-6720

Media Contact:
Caroline Zubieta, 562-951-1588

More News From Molina Healthcare, Inc.

Molina Healthcare Announces Closing of Offering of $850 Million of 6.500% Senior Notes Due 2031

LONG BEACH, Calif.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced the closing of its previously announced offering of $850 million aggregate principal amount of 6.500% senior notes due 2031 (the “Notes”) sold in a private offering to individuals reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons outside the United States in rel...

Molina Healthcare Announces Pricing of $850 Million of 6.500% Senior Notes Due 2031

LONG BEACH, Calif.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced that it priced $850 million aggregate principal amount of its 6.500% senior notes due 2031 (the “Notes”) to be sold in a private offering to individuals reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons outside the United States in reliance on Regulation S under...

Molina Healthcare Announces Proposed Offering of $750 Million of Senior Notes Due 2031

LONG BEACH, Calif.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today announced that it intends to privately offer, subject to market and other conditions, $750 million aggregate principal amount of senior notes due 2031 (the “Notes”). The Company will make the offering pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”). The initial purchasers will offer the Notes only to persons reasonably believed to be “qualified institutiona...
Back to Newsroom