M&A

CareSource has closed on its acquisition of Commonwealth Care Alliance. Boston-based CCA was facing significant financial challenges, with its reserves falling more than $216 million below solvency thresholds, prompting Massachusetts officials to freeze enrollment for some of its health plans…

Moody’s has downgraded Health Care Service Corporation’s insurance financial strength rating to A3 from A2 following the company’s acquisition of Cigna’s Medicare business on March 19. Moody’s cited likely challenges with the integration of the MA business into the company’s…

Cigna has closed the sale of its Medicare Advantage business to Health Care Service Corp.  The sale includes The Cigna Group’s MA, Medicare Part D and supplemental benefits businesses, according to a March 19 news release. HCSC will also acquire…

CareSource plans to acquire ElderServe Health, a long-term services plan. 

UnitedHealth Group and Amedisys have proposed selling a minimum of 128 home health and hospice facilities as part of their efforts to address competitive concerns arising from their $3.3 billion merger. 

Elevance Health plans to acquire a stop-loss insurance subsidiary from Verily, a sister company of Google, the company confirmed in a statement to Becker's Feb. 7. 

Molina Healthcare has closed the acquisition of ConnectiCare, a subsidiary of New York City-based EmblemHealth. 

The sale of Cigna's Medicare Advantage business to Health Care Service Corp. has been approved by all federal regulators, according to The Cigna Group CFO Brian Evanko. 

Elevance Health has "many areas of interest" when it comes to future acquisitions Carelon President and Elevance Executive Vice President Peter Haytaian told investors. 

Little Rock-based Arkansas Blue Cross and Blue Shield is discussing a potential merger with Cambia Health Solutions, Arkansas Business reported Jan. 21.