Renton, Wash.-based Providence is exploring strategic options for its insurance arm, Providence Health Plan, including a potential sale, the system said in a March 19 news release shared with Becker’s. Executive Vice President and CFO Greg Hoffman, who is retiring from the 51-hospital system in June, said the move is part of Providence’s broader strategy to focus on delivering high-quality care and maintaining long-term financial strength. The potential sale of Providence Health Plan, headquartered in Portland, Ore., comes amid broader market pressures facing smaller, regional health plans that lack the scale of larger insurers.
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Source: https://www.beckerspayer.com/m-and-a/providence-explores-sale-of-health-plan/