Molina Healthcare has agreed to acquire the Medicaid Managed Long Term Care business of AgeWell New York. The purchase price is approximately $110 million, net of certain tax benefits and Molina’s target allocation of required regulatory capital.
AgeWell is a specialty managed care organization that provides long-term care services at home or in the community for those who are chronically ill or disabled in the Bronx, Manhattan, Queens, Brooklyn, Nassau, Westchester, and Suffolk counties. As of Aug. 31 AgeWell served approximately 13,000 managed long-term services and supports members, with full-year 2020 premium revenue of approximately $700 million. Read more.
