CareFirst BlueCross BlueShield reached separate agreements to acquire Trusted Health Plan (District of Columbia) Inc. and University of Maryland Health Partners.
Completion of the transaction is subject to various conditions, including regulatory approvals from the District of Columbia and the state of Maryland.
The University Of Maryland Medical System Corp., which owns Health Partners, will continue to own and operate the University of Maryland Health Advantage plan and provide coverage to those enrolled. There will be no immediate changes to the coverage and services of those enrolled in Health Partners.
Following the acquisition, CareFirst will bring Trusted Health and Health Partners into its not-for-profit organizational structure and integrate both companies' staffs and infrastructure with its own operations.
Trusted Health operates as a Medicaid managed care organization exclusively in Washington, D.C., and has more than 34,000 enrollees, and Health Partners serves more than 47,000 Medicaid recipients in 20 Maryland counties and Baltimore.
CareFirst BlueCross BlueShield, under CareFirst Inc., is the shared business name of CareFirst of Maryland Inc. and Group Hospitalization & Medical Services Inc.