A health plan formed by the not-for-profit healthcare systems in Louisville, Ky., and a group of doctors almost 15 years ago has been sold to Midwestern Insurance Alliance for undisclosed terms. Preferred Health Plan (PHP) was formed by Baptist Healthcare System, Caritas Health Services, Jewish Hospital HealthCare Services, Norton Healthcare and The Physicians Inc. Norm Risen, president and CEO of Midwestern, said the acquisition will solidify PHP's position in the marketplace and ensure that it remains locally owned. More than 80% of the physicians and hospitals in the region are members of the plan. "Our business goal through this acquisition is to provide the professional management necessary to stimulate PHP's growth in the market, while maintaining the high comfort level that participating physicians and employers already hold with PHP," Risen said. -- by Michael Romano
Louisville providers sell 15-year-old health plan
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