Molina Healthcare to acquire Florida Medicaid assets from First Coast Advantage

Long Beach, Calif.-based Molina Healthcare, through its subsidiary Molina Healthcare of Florida, has entered into an agreement with First Coast Advantage — a Provider Service Network affiliated with the University of Florida Jacksonville Healthcare and UF Health Jacksonville —  to acquire certain assets from First Coast and assume the company's Medicaid contract.

Florida Coast provides healthcare coverage to roughly 65,500 people, and participates in the Managed Medical Assistance program. Molina Healthcare provides managed healthcare services through Medicaid and Medicare as well as through insurance marketplace. Molina has approximately 2.3 million members.

For the transaction to be finalized, it must get approval from the Florida Agency for Health Care Administration.

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