Molina Healthcare To Acquire Bright HealthCare's California Medicare Business For ~$510M
Portfolio Pulse from Happy Mohamed
Molina Healthcare, Inc. (NYSE:MOH) has announced its plans to acquire the California Medicare business of Bright HealthCare for approximately $510 million. The acquisition is expected to expand Molina's Medicare presence in California and add $1.00 per share to new store embedded earnings. The transaction is expected to close in the first quarter of 2024.
June 30, 2023 | 12:17 pm
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POSITIVE IMPACT
Molina Healthcare's acquisition of Bright HealthCare's California Medicare business is expected to expand its Medicare presence in the state and add to its earnings per share.
The acquisition is a strategic move for Molina Healthcare to expand its Medicare presence in California. It is also expected to add to the company's earnings per share, which could make the stock more attractive to investors. Therefore, the news is likely to have a positive impact on Molina Healthcare's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100