Elder Health Pennsylvania, a subsidiary of Elder Health, Baltimore, will acquire 21,000 Senior Partners Medicare members from provider-owned Health Partners of Philadelphia. Financial terms werent disclosed. The deal will make Elder Health the second-largest Medicare Advantage plan in one of the largest Medicare markets in the country, with more than 45,000 members including 35,000 in the Philadelphia area, officials said. Health Partners, which is owned by a partnership of local hospitals and health systems, will retain its 135,000-member Medicaid plan. Elder Health serves an additional 25,000 members through its prescription drug plans. As part of the deal, Elder Health will enter into multi-year hospital and physician contracts with Temple University Health System, University of Pennsylvania Health System, and Jefferson Health Systems Albert Einstein Medical Center and Frankford Hospitals. The deal is subject to regulatory approval and expected to close by April 1. -- by Cinda Becker
Insurer to buy provider-owned plan
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