The Hawaii Medical Assurance Association said it plans to acquire the health insurance membership of Summerlin Life and Health Insurance Co. in Hawaii.
Hawaii Medical Assurance to acquire Summerlin membership
Under the terms of the deal, HMAA will add about 22,000 members, bringing total its membership in Hawaii to about 48,000 people. The Honolulu-based HMAA said the deal would create the second-largest PPO in Hawaii. The financial terms of the acquisition were not disclosed.
“This move will provide both HMAA's and Summerlin's members with a wider choice of comprehensive benefit options that will help protect them and their families,” said John Henry Felix, HMAA's chairman, president and CEO, in a news release.
Summerlin is part of I/MX Cos., a health and life insurance provider based in Las Vegas.
The deal is subject to customary regulatory approvals.
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