Molina Healthcare completed the acquisition of the California medicare business from Bright HealthCare for $510m.

Molina Healthcare, a managed healthcare services provider, completed the acquisition of the California medicare business from Bright HealthCare, a health insurance company, for $510m. “These additions fit perfectly with our strategy of serving high-acuity, low-income members and represent a textbook execution of our growth playbook. We acquire viable assets at attractive valuations, then deploy our proven team of operators to deliver improved financial results. We are pleased to continue our meaningful growth in California as the latest realization of our national growth strategy,” Joe Zubretsky, Molina President and CEO.