LONG BEACH, Calif. and HOUSTON, July 26,
2016 /PRNewswire-USNewswire/ -- Molina Healthcare, Inc.
(NYSE: MOH) and Memorial Hermann Health Plan, Inc. jointly
announced today that Molina Healthcare of Texas, Inc., a wholly-owned subsidiary of
Molina Healthcare, has entered into an agreement with Memorial
Hermann to enhance access to safe, high-quality care for Medicaid,
Medicare and CHIP recipients in the greater Houston area. At the closing of the
transaction, Molina's approximately 14,000 STAR, CHIP and CHIP
Perinate members residing in the Harris Service Delivery Area will
become members of Memorial Hermann Health Plan. As part of the
transaction, Memorial Hermann will become a contracted provider in
Molina's network serving STAR+PLUS, STAR+PLUS MMP and Medicare
D-SNP members. The transaction is expected to close during the
second quarter of 2017 subject to the receipt of regulatory
approvals and the satisfaction of other closing conditions.
"Molina is excited to expand access for our Houston members through the addition of
Memorial Hermann's integrated network of physicians and hospitals,"
said Anne Rote, president of Molina
Healthcare of Texas. "Molina and
Memorial Hermann share a common mission to focus on quality and
cost-effective health care for all individuals, and this
arrangement will help both organizations achieve that goal."
"Memorial Hermann Health System has been serving greater
Houston as well as Harris and surrounding counties for more than
100 years," said Dan Styf, CEO of
Memorial Hermann Health Plan. "STAR, CHIP and CHIP Perinate members
can be assured that our health plan's alignment with Memorial
Hermann, the market leader in Houston, and a wide network of strategic
provider partners, will give them direct access to high-quality,
easily accessible care."
About Molina Healthcare of Texas
Since 2006, Molina Healthcare of
Texas has been providing
government-funded care for low-income individuals. From the
beginning and through today, our mission has been to bring
high-quality and cost-effective health care to kids, adults,
seniors, families and people with disabilities. As of March 2016, the company serves approximately
260,000 members through Medicaid, CHIP, Medicare, Medicare-Medicaid
(Duals) and Health Insurance Exchange programs, with service areas
across Texas. Our state Provider
Network includes 6,114 primary care physicians and 41,103
specialist physicians.
About Molina Healthcare, Inc.
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 our locally operated health plans in 11
states across the nation and in the Commonwealth of Puerto Rico, Molina serves approximately 4.2
million members. Dr. C. David Molina
founded our company in 1980 as a provider organization serving
low-income families in Southern
California. Today, we continue his mission of providing high
quality and cost-effective health care to those who need it most.
For more information about Molina Healthcare, please visit our
website at molinahealthcare.com.
About Memorial Hermann
An integrated health system,
Memorial Hermann is known for world-class clinical expertise,
patient-centered care, leading edge technology, and innovation. The
system, with its exceptional medical staff and approximately 25,000
employees, serves to advance health in Southeast Texas and the Greater Houston community. Memorial Hermann's
16 hospitals include four hospitals in the Texas Medical Center:
among those facilities is a full-service adult hospital; a
children's hospital which houses neonatal intensive care services
and a pediatric intensive care unit; the Memorial Hermann Red Duke
Trauma Institute; and the nation's busiest Level 1 Trauma Center.
The system also operates 12 community hospitals, three Heart &
Vascular Institutes, the Mischer Neuroscience Institute, four
IRONMAN Sports Medicine Institute locations and a comprehensive
ambulatory care network.
Memorial Hermann Health Plan, Inc. is a wholly-owned HMO
subsidiary of Memorial Hermann. Through its affiliates,
Memorial Hermann Health Solutions, Inc., Memorial Hermann Health
Insurance Company, and Memorial Hermann Employer Solutions, the
company offers a variety of HMO & PPO products to commercial
and Medicare Advantage members as well as a broad range of
third-party administrator (TPA) services and on-site wellness
programs for numerous large employers.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: This press release contains
"forward-looking statements" regarding the agreement between
Memorial Hermann Health Plan, Inc. and Molina Healthcare of
Texas, Inc. 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, risks
related to: the timely closing of the transaction, including the
need to obtain regulatory approvals and other third party consents;
any conditions imposed on the parties by regulators in connection
with consummating the transaction described herein; the
satisfaction or waiver of closing conditions for the transition and
integration of Molina's members into Memorial Hermann Health Plan;
maintaining provider relations; and the possibility that the
transaction will not be completed on a timely basis or at all.
Additional information regarding the risk factors to which Molina
Healthcare is subject is provided in greater detail in its periodic
reports and filings with the Securities and Exchange Commission,
including its most recent Annual Report on Form 10-K. These reports
can be accessed under the investor relations tab of Molina
Healthcare's website or on the SEC's website at sec.gov. Given
these risks and uncertainties, Molina Healthcare can give no
assurances that its forward-looking statements will prove to be
accurate, or that any other results or events projected or
contemplated by its forward-looking statements will in fact occur,
and Molina Healthcare cautions investors not to place undue
reliance on these statements. All forward-looking statements in
this release represent Molina Healthcare's judgment as of the date
hereof, and Molina Healthcare disclaims any obligation to update
any forward-looking statements to conform the statement to actual
results or changes in its expectations that occur after the date of
this release.
Molina Healthcare Contacts:
Investor Relations:
Juan José Orellana
562-435-3666
Public Relations:
Leigh Woodward
562-528-5056
Memorial Hermann Contact:
Public Relations:
James Campbell
713-242-4787
Logo - http://photos.prnewswire.com/prnh/20140923/147994
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/molina-healthcare-and-memorial-hermann-announce-improved-access-to-care-for-medicaid-medicare-and-chip-recipients-in-greater-houston-300304261.html
SOURCE Memorial Hermann Health System