Molina Healthcare To Acquire AgeWell New York’s Medicaid Managed Long Term Care Business For $110 Million

Molina Healthcare, Inc. entered into an agreement to acquire the Medicaid managed long term care business of AgeWell New York for $110 million. AgeWell is a specialty managed care organization that provides long-term care services at home or in the community for New York Medicaid beneficiaries with disabilities. As of August 31, 2021, AgeWell served approximately 13,000 beneficiaries enrolled in managed long-term services and supports (MLTSS) living in The Bronx, New York (Manhattan), Queens, Kings (Brooklyn), Nassau, Westchester, and Suffolk counties.

The transaction is expected to close by the third quarter of 2022. Molina Healthcare anticipates that . . .