Long Beach, Calif.-based Molina Healthcare, through its subsidiary Molina Healthcare of Florida, has entered into a definitive 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, including the company's Medicaid contract.
With the definitive agreement signed, the transaction needs to be approved by the Florida Agency for Health Care Administration before closing.
"We will be very excited to welcome First Coast Advantage's members to Molina Healthcare and look forward to partnering with the University of Florida Health Care Network and Shands providers at the closing of this transaction," said David Pollack, president of Molina Healthcare of Florida.
First 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 the insurance marketplace and has approximately 2.3 million members.
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