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Molina Amends Purchase Price For Acquisition Of Bright HealthCare's California Medicare Business
(RTTNews) - Molina Healthcare, Inc. (MOH) announced Monday that last week it amended the purchase agreement for the acquisition of Bright HealthCare's California Medicare business.
The purchase price for the transaction, net of certain tax benefits, is reduced from the previously announced $510 million to approximately $425 million, and now represents 23% of expected 2023 premium revenue of $1.8 billion.
As previously stated by Molina, the acquisition adds $1.00 per share to new store embedded earnings and is expected to close on or about January 1, 2024.
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