Humana, Louisville, Ky., has closed its $850 million acquisition of medical services organization Metropolitan Health Networks as it moves to adopt a more-integrated care model.
The insurer disclosed plans for the transaction
last month; it also confirmed a deal to buy a minority interest in Miami-based medical services organization MCCI Group Holdings
Metropolitan Health Networks, based in Boca Raton, Fla., coordinates care for about 87,500 Medicare Advantage and Medicaid beneficiaries in the state. Its provider network includes about 35 primary-care medical centers as well as affiliated physicians who primarily serve Humana members, according to a news release
, one of Metropolitan Health Networks' wholly owned subsidiaries, is a National Committee for Quality Assurance-recognized patient-centered medical home.
Humana financed the acquisition by issuing new senior notes. Shareholders of Metropolitan will receive $11.25 per share in cash. The insurer will also repay Metropolitan's outstanding debt.