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news.Molina Healthcare has closed on its acquisition of Mercy CarePlus, a Medicaid managed care organization based in Missouri. The base purchase price for the acquisition was $80 million, subject to certain adjustments.
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The acquisition was funded with available cash and the proceeds from the company’s recent offering of convertible senior notes.
Mario Molina, president and CEO of Molina Healthcare, said: “We are pleased to have completed this transaction in Missouri and to have expanded our footprint into a new state. We are excited to add the Mercy CarePlus members to the Molina family, and we look forward to working with the state of Missouri as it expands its MC+ Medicaid managed care program into 21 additional counties beginning in January 2008.”