Centene Corporation has entered into a definitive agreement to acquire QCA Health Plan and QualChoice Life and Health Insurance Company in Arkansas, according to Centene.
The businesses were sold by Catholic Health Initiatives, which had acquired QualChoice, the parent company of QCA Health Plan, in 2014, according to the Arkansas Times.
CHI referred comment to Centene. Centene did not release the terms of the transaction but said it is subject to regulatory approval.
Until the transaction closes, Centene and QualChoice remain independent companies, and it is business as usual at QualChoice offices across Arkansas, Centene said.
There are no immediate changes expected for current QualChoice customers, members, agents/brokers and providers.
QualChoice offers group and individual health plans, adding to Centene’s business specializing in Medicare, Medicaid, Affordable Care Act plans, managed healthcare programs and behavioral health services to public sector employees and beneficiaries, and also correctional healthcare services.
The news comes as CHI and Dignity Health are about to close their merger on January 31.
ON THE RECORD
“Our organizations share a common mission and vision: to serve the healthcare needs of our community by providing high quality, affordable health coverage. We look forward to working together to help improve the lives of our fellow Arkansans,” Centene said by statement.
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