Essence Healthcare, sister company of Lumeris, has reached an agreement in principle to acquire Mutual of Omaha Medicare Advantage Company (MOMAC) and Medicare Advantage Company of Omaha (MAICO). The Mutual of Omaha subsidiaries own Medicare Advantage businesses in the Cincinnati, San Antonio, Dallas, Denver and El Paso markets. MOMAC and MAICO’s Medicare Advantage plans are currently operated by Lumeris, and Lumeris will continue to operate the plans after the transaction is completed, avoiding any disruption for plan members or providers. “We have enjoyed our close working relationship with Mutual of Omaha,” said Richard Jones, CEO of Essence Healthcare. “The acquisition of these plans will significantly accelerate our footprint in Medicare Advantage, and materially change our expansion plans. Accordingly, we will need to reorganize and restructure our business to accommodate this opportunity.”
Read the full article: Essence Healthcare and Mutual of Omaha Reach Agreement in Principle for Essence to Acquire Mutual of Omaha’s Medicare Advantage Business //
Source: https://www.businesswire.com/news/home/20200224005869/en/Essence-Healthcare-Mutual-Omaha-Reach-Agreement-Principle