Molina Healthcare completed the acquisition of Texas medicaid contracts of Cigna for $60m.

Molina Healthcare, a managed care organization, completed the acquisition of Texas medicaid contracts of Cigna, an insurance company, for $60m. "Acquiring Cigna's Texas Medicaid business provides us with a stable base of membership and revenue that will deepen Molina’s service offerings in Texas, allowing us to meet the needs of thousands of additional Medicaid and MMP members. The transaction demonstrates continued execution and is nicely representative of our growth strategy," Molina.