Molina Healthcare of Washington Inc. announced this week that it has entered into a definitive agreement to acquire certain assets from Columbia United Providers, also known as CUP.
CUP has provided coverage for medical services throughout the Southwest Washington since it was founded in 1994, serving more than 55,000 Medicaid members in Clark County.
As a part of the transaction, Molina Healthcare will receive the right to assume CUP’s Medicaid membership in the state of Washington, as well as certain other rights and assets related to the operation of the Medicaid business.
“CUP has provided excellent service to Medicaid members in Clark County for more than 20 years.,” said Peter Adler, president of Molina Healthcare of Washington, in a press release. “We are honored to welcome CUP members to Molina, and we look forward to carrying on their commitment to the Southwest Washington community and building upon our current relationships with providers throughout the region. This proposed transaction allows Molina to better serve the growing Medicaid population, maintain continuity of care for CUP members, and further deepen our commitment to the Medicaid program in Washington.”
“The best way to meet the needs of our community, and to maximize CUP’s potential, is to join with the strengths and resources of a larger Medicaid specialist,” added Cynthia Finter, interim CEO of CUP. “Molina’s track record for quality and innovation, as well as its focus on serving those who qualify for government programs, will allow our members to receive expanded capabilities while we continue our history of service to our members and their providers. We are excited to work closely with Molina, the top Medicaid plan in the state of Washington and one of the leading national plans.”
The acquisition is expected to close during the first quarter of 2016.
