Molina Healthcare Announces the Closing of its Acquisition of Passport’s Medicaid Plan Assets
September 01 2020 - 6:00AM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced
the closing of its acquisition of certain assets related to the
Medicaid line of business of Passport Health Plan, Inc.
(“Passport”). In addition, Passport’s Medicaid contract with the
Commonwealth of Kentucky has been novated to Molina. Effective
September 1, 2020, Molina Healthcare of Kentucky, Inc. will provide
Medicaid managed care benefits to Medicaid members that were
previously being served by Passport. As of August 1, 2020, Passport
served approximately 315,000 Medicaid members in Kentucky.
In addition to the acquisition of Passport’s Medicaid contract,
Molina acquired and will utilize the Passport name, a well-known
brand in Kentucky, and has agreed to hire approximately 500
Kentucky-based Passport and Evolent Health employees.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed
health care services under the Medicaid and Medicare programs and
through the state insurance marketplaces. Through its locally
operated health plans, Molina Healthcare served approximately 3.6
million members as of June 30, 2020. For more information about
Molina Healthcare, please visit molinahealthcare.com.
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Investor Contact: Julie Trudell, 562-912-6720
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