HAP intends to acquire Midwest Health Plan
HAP intends to acquire Midwest Health Plan Melissa Burden/ The Detroit NewsDetroit — Detroit-based Health Alliance Plan said Monday it plans to acquire Dearborn-based Midwest Health Plan, a for-profit Medicaid health maintenance organization with 74,000 members.
HAP, a nonprofit insurer with about 500,000 members, would maintain Midwest Health Plan as a subsidiary under the proposed agreement. Dr. Mark Saffer, founder of Midwest Health Plan, would retain his role as president.
The deal would help both HAP and Midwest Health Plan to compete in the growing Medicaid market, which in Michigan is expected by 2014 to grow to about 2 million people under health care reform, up from about 1.5 million people today, the companies said.
"The strategic alliance with Midwest Health Plan will provide HAP with access to Michigan's growing managed Medicaid market," HAP President and CEO William R. Alvin said in a statement. "We are pleased to enter this market by investing in a Michigan-based company. MHP has a reputation for excellent leadership and a talented workforce.
"This acquisition positions HAP with the ability to serve the growing health insurance needs of the southeast Michigan market."
The acquisition requires federal and state regulatory approval .
Alliance Health Insurance - News
Detroit— Detroit-based Health Alliance Plan said Monday it plans to acquire Dearborn-based Midwest Health Plan, a for-profit Medicaid health maintenance organization with 74000 members. HAP, a nonprofit insurer with about 500000 members, would
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By Carol Costello SPECIAL TO THE TELEGRAM & GAZETTE WORCESTER — Not a day went by when a Fallon Clinic employee wasn't questioned by a customer about the health insurance services offered by Fallon Community Health Services.
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