Anthem, Inc. announced the completion of the acquisition of Puerto Rico-based MMM Holdings, LLC and its Medicare Advantage (MA) plan MMM Healthcare, LLC. as well as affiliated companies and Medicaid plan. Anthem acquired MMM from InnovaCare Health, L.P., a leading integrated, value-based payor and a provider service organization. The financial terms of the transaction were not disclosed.
- Innovative vision: “We’re pleased to complete the acquisition of MMM and work with our new colleagues to serve Medicare and Medicaid-eligible individuals and consumers in Puerto Rico. With our vision to be an innovative, valuable and inclusive healthcare partner , we remain committed to enhance their healthcare experience by providing services that drive greater value and meet their diverse needs,” said Gail K. Boudreaux, President and CEO, Anthem, Inc.
- Wide approach: MMM’s approach to serving its members align with Anthem’s commitment to whole-person health, with MMM’s provider network and wholly-owned, independent physician associations (IPAs) Castellana Physicians Services and PHM as well as independent IPAs. Together, MMM’s network includes more than a dozen offices and more than 10,000 healthcare providers across the island.
- Lifelong partnership: “We are pleased to officially bring MMM into the Anthem family because we share a commitment to being a lifetime partner in health to the people we serve,” said Felicia Norwood, EVP and President, Government Business Division for Anthem, Inc. “Our whole-person approach to health, which includes addressing the social drivers of health, give Medicare and Medicaid-eligible individuals access to the services and care they need to improve their health and wellbeing.”
- Pathway to improved health: Based in White Plains, N.Y., InnovaCare Health improves the lives of members and physicians through innovative solutions for value-based healthcare. Through an integrated portfolio of health plans, medical service organizations, clinical networks and more, the company manages more than 500,000 lives, including more than 150,000 dual-eligible beneficiaries.
- A strategic position: MMM holds the only 4.5 Stars MA contract in Puerto Rico from the Centers for Medicare and Medicaid Services. With more than 275,000 MA members and over 314,000 Medicaid members, MMM is the ninth-largest MA plan in the country and Puerto Rico’s second-largest Medicaid plan.