Morgan Haefner – April 14, 2020
Molina Healthcare terminated its agreement to
acquire all the capital stock of NextLevel Health Partners, a Medicaid managed
care organization in Illinois.
Molina ended the agreement due to "the
seller's stated unwillingness to close pursuant to the terms of the acquisition
agreement," according to an April 14 filing with
the Securities and Exchange Commision.
Molina entered into
a definitive agreement to acquire all the capital stock of NextLevel Jan. 6.
Under the transaction, Molina would have assumed about 50,000 Medicaid and
Managed Long-Term Services and Supports members. The deal was estimated to cost
about $50 million.
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