Molina Healthcare to Acquire ConnectiCare

A message from Karen Ignagni, EmblemHealth CEO

"I am writing to share some exciting news about a critical step EmblemHealth is taking.

As you know, over the past five years, we have been focused on technology, product, network, and population health transformation, proudly serving customers across the tri-state area. Thanks to our talented team, we have modernized every aspect of our enterprise.

In the past year, we have spent more and more time focused on New York City and building on our community efforts, including opening new Neighborhood Care locations to address health equity and the social barriers our members face in accessing care. Through that work, we recognized the ever-increasing role we play in building a future for health care in New York that best supports New Yorkers and their families. As a result, we are refocusing on our primary mission: to provide high-quality health plans and services to New Yorkers for years to come.

To support the future growth of our Connecticut health plan, ConnectiCare, we have agreed to sell ConnectiCare to Molina Healthcare, Inc. (NYSE: MOH). This is good news because it will bring capital into the organization, providing additional resources for investment in New York.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2025. For now, it’s business as usual. Our provider networks are not changing; we will continue to offer tristate and national network access.

Thank you for placing your business with EmblemHealth. We look forward to working with you on new opportunities. If you have any questions, please don’t hesitate to contact your account executive or account manager."

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