Continuing its rapid growth, Molina Healthcare, Long Beach, Calif., has agreed to acquire the Medicaid and Basic Health Plan membership of Premera Blue Cross, Mountlake Terrace, Wash., pending state approval. Financial terms weren't disclosed. The deal, which includes 43,000 Medicaid and 23,000 Basic Health Plan members, would boost Molina's Washington membership to about 260,000. Molina, which specializes in covering beneficiaries of Medicaid and other state programs, has nearly 600,000 members in California, Michigan, Utah and Washington and last month announced plans to acquire 66,000-member Health Care Horizons, Albuquerque, for $69 million. "Medicaid and Basic Health managed-care products make up a very small part of Premera's business," said Scott Forslund, spokesman for the 1.6 million-member Blues plan. "This agreement will allow each company to focus on what it does best." -- by Laura B. Benko
Medicaid health plan announces another acquisition
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