MDwise Agrees to Acquisition

Posted: Updated:
INDIANAPOLIS -

A Michigan health care management organization has announced an agreement to acquire Indianapolis-based MDwise. McLaren Health Care says the deal, if approved by state and federal regulators, would more than double the number of individuals it serves. McLaren's beneficiaries currently total 260,000, while MDwise covers 360,000 individuals.

McLaren says it will "maintain MDwise's Indiana operations" and customers shouldn't notice changes to their Hoosier Healthwise and Healthy Indiana Plan services. The 620,000 individuals involved in the resulting company would make McLaren one of the largest provider-sponsored health plans in the region.

McLaren Chief Executive Officer Philip Incarnati says "this expansion allows us to leverage the success and strength of our health plan expertise, and brings significant benefits to the individuals and families served by MDwise. In addition to providing a platform for future growth in Indiana, expanding our health plan operations allows us to create greater economies of scale and new opportunities to share data and best practices, all of which will improve the experience of both members and network providers."

In June, MDwise joined Indianapolis-based Anthem Inc. (NYSE: ANTM) in dropping out of Indiana's federally-run health insurance marketplace. Earlier this year, it also dropped out of the Indiana Family and Social Services Administration Hoosier Care Connect program, laying off 80 workers.

MDwise CEO Jim Parker, who was hired in April, says the company's board of directors undertook a lengthy process to identify and select the right buyer. "We are confident McLaren Health Care will be an ideal choice to acquire MDwise. With their strong track record operating a successful health plan in Michigan, they have the expertise needed to assist MDwise to succeed in a rapidly changing managed care market while maintaining a high level of service to our members and provider partners."

You can read more about the deal by clicking here.

  • Perspectives

    • Big Data's Role in Site Selection

      In the world of site selection, companies assess the pros and cons of various factors to identify the location that best fits their current and future business needs. The list may seem endless: labor availability, utility needs and costs, real estate options, tax climate, incentives, quality-of-life considerations, even an area’s weather patterns and the likelihood of natural disasters. With the emergence of big data and the use of data analytics in all facets of business...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • GE Aviation Plant Leader Updates Progress

      Three years after opening, the GE Aviation Lafayette Engine Facility is realizing some of its lofty ambitions. During an interview on a special Greater Lafayette town hall edition of Inside INdiana Business with Gerry Dick, new Plant Leader Renato Vidal says nearly 200 will be employed at the plant by the end of the year. The company expected to add 200 jobs by 2020 when ground on the $110 million operation was broken in 2014.

    • The MedTech Park would include a medical office building to house Central Indiana Orthopedics' Fishers operations.

      Construction on MedTech Park to Begin

      Officials in Fishers will Friday break ground on the first portion of the $13 million MedTech Park project. Muncie-based Central Indiana Orthopedics, which first proposed the development more than two years ago, says construction will begin on a 50,000-square-foot medical office building.

    • Three Indiana Sam's Club Stores to Close

      Walmart (NYSE: WMT) has detailed plans to close three Sam's Club stores in Indiana, a move that will affect nearly 420 workers. The announcement of the closures, which include two stores in Indianapolis and one in Goshen, comes on the same day the company announced plans to increase the starting wage for hourly employees and expand certain benefits.

    • 'Heartbreaking' End For Nashville House

      The 91-year-old Nashville House restaurant is closing. The Brown County family dining staple will serve its last meal at the end of the month. In a post on Facebook, Gina Sarah Rogers, daughter of late-owners Andy and Fran Rogers, said it is "the end of an era and very heartbreaking." The restaurant is known for its country-style fried chicken and ham meals. Business on the property dates back to the late-1860s when an inn opened. It was acquired in...