UCare is laying off roughly 250 employees in early January as the Minneapolis-based nonprofit insurer moves toward shutting down, the Minnesota Star Tribune reported Dec. 11. Another 650 workers are expected to transition to jobs at Medica, which announced in…
M&A
Blue Cross and Blue Shield of Kansas City (Mo.) and Highmark, both nonprofit independent licensees of Blue Cross Blue Shield, are planning to affiliate, according to a Dec. 11 news release. Blue KC will retain its local leadership and headquarters…
UnitedHealth Group is selling its last South American business, Banmedica, to Brazilian private equity firm Patria Investments for $1 billion, CNBC reported Nov. 30. Banmedica operates in Colombia and Chile and includes 1.7 million health insurance members, seven hospitals and…
Cobalt Health Solutions, a subsidiary of Blue Cross and Blue Shield of Kansas City (Mo.), is selling Cobalt MedPlans to MDI NetworX, according to a Nov. 24 news release. Cobalt MedPlans offers administrative services to payers, assisting a variety of…
UnitedHealth Group has purchased a four-story, 79,000 square foot medical office building in Henderson, Nevada. The $46.1 million building houses Optum Nevada’s new Cactus Healthcare Center and marks the largest medical office transaction in the Las Vegas market this year,…
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“Affiliation” is a buzzword in insurer partnerships. It may seem ambiguous, but this is a standard term for nonprofit M&A-type activity. A CareSource spokesperson told Becker’s that the nonprofit does not always use the term “acquisition,” instead calling an agreement…
Independent Health plans to join fellow nonprofit insurer MVP Health Care, according to a Nov. 18 news release. Together, the organizations would encompass more than 1 million members, $7 billion in annual revenue and more than 3,000 employees. “Joining the…
Cambia Health Solutions and Blue Cross and Blue Shield of Arkansas have signed a definitive agreement to form a strategic affiliation. Under the agreement, Arkansas Blue Cross will continue to operate as an Arkansas-based health insurance company, maintaining its local…
The Justice Department is asking a Maryland federal court judge to appoint William Berlin as compliance monitor as part of the settlement agreement allowing UnitedHealth Group to acquire Amedisys. UnitedHealth completed its acquisition of the home health and hospice provider…
Arkansas Blue Cross and Blue Shield confirmed it is exploring an affiliation with Cambia Health Solutions, The Arkansas Democrat Gazette reported Oct. 30. A spokesperson for Arkansas BCBS told the news outlet the “strategic affiliation agreement” the company is considering…