Molina Healthcare, Inc. and Loyola Physician Partners, LLC, jointly announced that Molina Healthcare of Illinois, Inc., a wholly owned subsidiary of Molina Healthcare, Inc., has entered into a definitive agreement to acquire certain assets relating to Loyola Physician Partners’ Medicaid business in Illinois. As part of the transaction, Molina Healthcare of Illinois will receive the right to transition Loyola’s Medicaid members in Cook County and assume certain assets related to the operation of the Medicaid business. The closing of the transaction is expected to occur in the first quarter of 2016. Financial details of the transaction were not disclosed.
Loyola, through the Accountable Care Entity Loyola Family Care, provides a medical home for approximately 20,000 members in the Medicaid Family Health program in Cook County. Solely owned by the Loyola University Health System (LUHS), Loyola’s provider network includes Loyola University Medical Center, Gottlieb Memorial Hospital, LUHS employed physicians, affiliated physicians, Pillars, Proviso Township Mental Health Commission, and Catholic Charities of the Archdiocese of Chicago.
This was reported by Business Wire on October 9, 2015.