GuideWell Mutual Holding Acquires Triple-S Management Corporation

GuideWell Mutual Holding Acquires Triple-S Management Corporation

Last week, GuideWell Mutual Holding Corporation announced a definitive agreement to acquire Triple-S Management Corporation for $900 million. GuideWell will acquire all the outstanding shares of Triple-S Management common stock for $36.00 per share in cash, representing a premium of approximately 49% to Triple-S’ 90-day volume-weighted average trading price.  Founded in 1959, Triple-S Management Corporation is a health care services company serving more than 1 million people in Puerto Rico. It has the exclusive right to use the Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad... Read More »
UnitedHealth Group Expands in Home State

UnitedHealth Group Expands in Home State

One of the largest health insurers in the country is making a play in its home state of Minnesota. UnitedHealth Group, Inc. has recently struck a deal to acquire PreferredOne, according to Fairview Health Services, a not-for-profit organization that took full ownership of PreferredOne back in 2016.  PreferredOne is a health insurance provider comprised of three companies: PreferredOne Administrative Services, Inc., PreferredOne Insurance Company, and PreferredOne Community Health Plan. The health insurer has 367,000 members and is contracted with 99% of clinics and hospitals in Minnesota.  This deal aligns with UnitedHealth Group’s push into the Minnesota health insurance market, which it... Read More »
Molina Healthcare Expands in Texas

Molina Healthcare Expands in Texas

The Managed Care-giant Molina Health, Inc. (NYSE: MOH) has announced a deal with Cigna (NYSE: CI). Molina is purchasing Cigna’s Texas Medicaid and Medicare-Medicaid Plans (MMP) for $60 million. As of December 31, 2020, Cigna’s Texas MMP business served approximately 48,000 Medicaid members in the STAR+PLUS program in the Hidalgo, Tarrant, and Northeast service areas, and approximately 2,000 MMP members in the Hidalgo service area. In 2020, the business generated a premium revenue of approximately $1.0 billion.  This transaction is a huge boost into the Texas Medicaid and Medicare market, another step in Molina’s path for growth. Throughout 2020, the company announced a string of... Read More »
HealthEquity Adds Further to Expand Presence in HSA Market

HealthEquity Adds Further to Expand Presence in HSA Market

The Utah-based managed care company HealthEquity, Inc. (NASDAQ: HQY) announced earlier this month the acquisition of Further, a leading provider of health savings accounts (HSA) and consumer-directed benefit administration services. HealthEquity is paying $500 million for Further, approximately 8.33x the company’s annualized revenue run-rate and 41.7x estimated EBITDA.  Further is a leading provider of HSA and consumer-directed benefit administration services, and the nation’s ninth-largest HSA custodian overall. Further is also a technology leader in employer-funded Voluntary Employees’ Beneficiary Association (VEBA) trust administration. VEBAs are triple-tax advantaged health accounts... Read More »
HealthEquity Adds Further to Expand Presence in HSA Market

Anthem Buys myNEXUS

The healthcare insurance giant Anthem, Inc. (NYSE: ANTM) is back with a new acquisition. Anthem is buying myNEXUS, Inc. from private equity firm WindRose Health Investors, which has held a majority stake in the company since 2014 when it was known as MTS Health Investors.   myNEXUS is a post-acute benefits management company that provides comprehensive management services to health plans and other risk-bearing organizations on an at-risk or fee-for-service basis for total medical expense related to integrated home health, Stars Performance Improvement Program, Social Determinants of Health, inpatient avoidance and clinical programs. myNEXUS delivers integrated clinical support services for... Read More »
Optum Acquires Change Healthcare

Optum Acquires Change Healthcare

It’s not often we see a prolific buyer such as Change Healthcare (NASDAQ: CHNG) as the target company in an acquisition, but it’s a new year with new possibilities. The digital health and analytics giant will be acquired by Optum, a member of UnitedHealth Group (NYSE: UNH) that operates OptumHealth, a population health management company; OptumInsight, a healthcare information analytics company; and OptumRx, a pharmacy benefits management company. The deal is valued at $13.17 billion, consisting of $8 billion in cash ($25.75 per share) and approximately $5.17 billion in assumed debt. The price is a 41% premium to Change Healthcare’s closing price on January 5, 2021.  Change Healthcare is a... Read More »