LONG BEACH, Calif.--(BUSINESS WIRE)--May 24, 2018--
Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly
owned subsidiary, Molina Healthcare of Washington, Inc., has been chosen
as an apparently successful bidder by the Washington State Health Care
Authority (HCA) to negotiate and enter into managed care contracts for
all eight additional regions of the state’s Apple Health Integrated
Managed Care (IMC) program. With this announcement, Molina is one of
only two managed care organizations selected for the IMC program in each
of the state’s 10 regional service areas and all 39 counties.
“These awards are a testament to Molina Healthcare of Washington’s
excellent track record of providing high quality, accessible, and
affordable health care,” said Joe Zubretsky, president and chief
executive officer for Molina Healthcare, Inc. “We look forward to our
continuing partnership with the HCA to serve members across the state
through the Integrated Managed Care program.”
The new contracts will allow selected managed care organizations to
provide the full continuum of behavioral and physical health services
that are available to beneficiaries for each of the eight regional
“We are honored to have the opportunity to provide fully integrated
managed care in every region of the state,” said Peter Adler, president
of Molina Healthcare of Washington. “The success we have already seen
serving members in the North Central and Southwest regions illustrates
how effective whole-person care can be in improving health outcomes for
some of the most vulnerable members of our communities while also
controlling costs for our government partners.”
Molina currently provides Medicaid physical health services throughout
Washington state and fully integrated behavioral and physical health
services in the North Central and Southwest regions of Washington.
Molina Healthcare of Washington was selected by HCA for the following
regions: Greater Columbia, King, North Sound, Pierce, and Spokane
beginning January 1, 2019; and Salish, Thurston-Mason, and Great Rivers
beginning January 1, 2020. Molina’s current membership in the newly
awarded regions totals approximately 605,000. Combined with previously
awarded regions, Molina’s Medicaid membership in Washington is currently
in excess of 748,000.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health
care services under the Medicaid and Medicare programs and through the
state insurance marketplaces. Through its locally operated health plans,
Molina Healthcare serves approximately 4.1 million members as of March
31, 2018. For more information about Molina Healthcare, please visit our
website at molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains “forward-looking
statements” regarding the selection of Molina Healthcare of Washington
to negotiate and enter into managed care contracts for eight additional
regions of the state’s Apple Health Integrated Managed Care Program. All
forward-looking statements are based on current expectations that are
subject to numerous risk factors that could cause actual results to
differ materially. Such risk factors include, without limitation, a
failure of the parties to finalize and execute the new contracts, a
delay in the start date for the new contracts, a reversal of the
contract awards in connection with a successful protest by another
bidder, and results and performance issues under the new contracts that
are materially less favorable than those under the existing contracts.
Additional information regarding the risk factors to which we are
subject is provided in greater detail in our periodic reports and
filings with the Securities and Exchange Commission, including our most
recent Annual Report on Form 10-K. These reports can be accessed under
the investor relations tab of our website or on the SEC’s website at sec.gov.
Given these risks and uncertainties, we cannot give assurances that our
forward-looking statements will prove to be accurate, or that any other
results or events projected or contemplated by our forward-looking
statements will in fact occur, and we caution investors not to place
undue reliance on these statements. All forward-looking statements in
this release represent our judgment as of the date hereof, and we
disclaim any obligation to update any forward-looking statements to
conform the statement to actual results or changes in our expectations
that occur after the date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180524006424/en/
Source: Molina Healthcare, Inc.
Molina Healthcare, Inc.