MINNETONKA, Minn./MIAMI (Feb. 28, 2012) —
Demonstrating the company’s continued commitment to serving health care consumers across Florida, UnitedHealthcare, a UnitedHealth Group (NYSE:UNH) company, has agreed to purchase Preferred Care Partners (Preferred Care) and Medica HealthCare Plans (Medica), senior-focused health plans with operations primarily in South and Central Florida. The acquisitions will be two separate transactions.
“Preferred Care and Medica each combine a strong record of providing quality, affordable health care coverage to Floridians with solid relationships with physicians and other health care providers,” said Gail Boudreaux, Chief Executive Officer of UnitedHealthcare. “Joining these strengths with UnitedHealthcare’s record of practical health innovation will bring greater health care access and value to Floridians and the health care community that serves them.”
Preferred Care, based in Miami, serves approximately 50,000 Medicare Advantage members in South Florida, Central Florida and the Tampa area. In addition, Preferred Care in 2011 began serving Medicaid beneficiaries through its CareFlorida plan, which has 5,000 members. Medica, based in Coral Cables, serves approximately 35,000 Medicare Advantage members and 7,200 Medicaid beneficiaries in Miami-Dade and Broward counties.
As part of the Preferred Care transaction, UnitedHealthcare will acquire Preferred Care’s six primary care centers in Miami-Dade and Broward counties. As part of the Medica transaction, UnitedHealthcare will acquire Medica’s two medical centers, located in Coral Gables and Hialeah. The transactions are subject to customary regulatory approvals and are expected to close later this year.
Preferred Care’s and Medica’s health plans and primary care centers will enhance UnitedHealthcare’s offerings in Florida, which include employer-sponsored health plans, individual plans, Medicare Advantage plans, Medicare Supplement plans, Part D prescription drug plans, Medicaid managed care plans, chronic disease management and care coordination programs. UnitedHealthcare Medicare Advantage members in Florida have access to a network statewide of more than 21,000 physicians and 161 hospitals.
UnitedHealth Group has invested significant resources in Florida and employs more than 5,000 Floridians. UnitedHealth Group actively supports Florida communities through initiatives such as UnitedHealthcare’s support to Step Up For Students, a nonprofit that administers the Florida Tax Credit Scholarship for low-income students, and the UnitedHealth Foundation’s support of the Diverse Scholars Initiative to promote future professional involvement in the health industry among students from multicultural backgrounds.
UnitedHealthcare is dedicated to helping people nationwide live healthier lives by simplifying the health care experience, meeting consumer health and wellness needs, and sustaining trusted relationships with care providers. The company offers the full spectrum of health benefit programs for individuals, employers and Medicare and Medicaid beneficiaries, and contracts directly with more than 650,000 physicians and care professionals and 5,000 hospitals nationwide. UnitedHealthcare serves more than 38 million people and is one of the businesses of UnitedHealth Group (NYSE: UNH), a diversified Fortune 50 health and well-being company.