Two nonprofit payers, SCAN Group and CareOregon, plan to combine under the name HealthRight group.
In a Dec.14 news release, the payers said they have entered a definitive agreement to combine. Pending regulatory approval, the deal is expected to close in 2023.
Long Beach, Calif.-based SCAN Group, the parent company of SCAN Health Plans, will be renamed HealthRight group. SCAN Health Plans and CareOregon will maintain separate brands. Portland-based CareOregon will retain its independent board, according to the news release.
The new combined nonprofit will serve 800,000 members in Medicare and Medicaid managed care and have combined revenues of $6.8 billion, according to the news release.