WellPoint To Purchase CareMore Health Group To Boost Senior Services
As part of an effort to improve its senior care profile, health insurer WellPoint recently announced plans to purchase Cerritos-based CareMore Health Group for about $800 million, the Los Angeles Times reports (Li, Los Angeles Times, 6/9).
CareMore operates Medicare Advantage plans and runs 26 clinics in Arizona, California and Nevada that specialize in care for seniors (Commins, HealthLeaders Media, 6/8). The company also specializes in care coordination and remote monitoring for patients with chronic conditions.
WellPoint said it plans to expand CareMore's senior care model to other states where WellPoint does business (Swiatek, Indianapolis Star, 6/9).
Kristin Binns, spokesperson for WellPoint, said that in the 14 states where WellPoint offers insurance plans, the company expects about one million baby boomers to become eligible for Medicare annually until 2030. "The growth opportunity is pretty significant," Binns said, adding that the insurer plans to open more clinics specializing in senior care over the coming years.
The deal, which is expected to close by the end of the year, is subject to state regulatory approvals (Los Angeles Times, 6/9).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.