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.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.
