Insurance giant UnitedHealthcare announced Tuesday that it is buying two senior-focused health plans in Florida to expand its coverage in that southern state.
The two plans are Preferred Care Partners and Medica HealthCare Plans. Terms of the acquisition were not disclosed. Through separate transactions, UnitedHealthcare will acquire Preferred Care’s six primary-care centers in Miami-Dade and Broward counties, while it will get another two medical centers in Coral Gables and Hialeah that are part of Medica. (The transaction is not related to Minnesota-based health insurance company Medica.)
In all, the acquisitions will bring 97,200 members into UnitedHealthcare’s fold, which include both Medicare Advantage members and Medicaid beneficiaries.
“Preferred Care and Medica each combine a strong record of providing quality, affordable healthcare coverage to Floridians with solid relationships with physicians and other healthcare providers,” said Gail Boudreaux, CEO of UnitedHealthcare, in a news release. “Joining these strengths with UnitedHealthcare’s record of practical health innovation will bring greater healthcare access and value to Floridians and the healthcare community that serves them.”
The transactions require regulatory approval and are expected to close at the end of the year.