Priority Health Expands into Northern Indiana, Ohio through Acquisition of Physicians Health Plan of Northern Indiana
2024年6月20日 - 2:25AM
ビジネスワイヤ(英語)
Priority Health, a Michigan-based health plan serving more than
1.3 million members, and Physicians Health Plan of Northern Indiana
(PHPNI) have announced plans for Priority Health to acquire PHPNI,
a health plan based in Fort Wayne that currently serves more than
52,000 members in Indiana and Ohio.
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Priority Health (Photo: Business
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“We look forward to providing high-quality, affordable coverage
to the customers and members of PHPNI. Our focus will remain on
whole-person health and an exceptional member experience,” Praveen
Thadani, president of Priority Health, said. “This will also help
simplify and enhance the experience for members of both plans who
live near the Indiana or Ohio borders.”
Gary Shearer, president and CEO of PHPNI, added, “Joining
Priority Health has great potential to offer additional resources
and innovation to PHPNI customers and members. We expect this
transaction will benefit the communities and businesses we
serve.”
Both organizations anticipate the transaction will close by the
end of 2024 after required approvals are completed. Priority Health
and PHPNI do not expect significant changes to product lines and
member coverage as a result of the transaction. Financial proceeds
of the transaction will advance the mission of the PHP Foundation,
adding to its holdings and enhancing the ability to support the
health and wellness needs of unserved and in-need populations in
Northern Indiana communities.
Cain Brothers, a division of KeyBanc Capital Markets, is serving
as exclusive financial advisor and Faegre Drinker Biddle &
Reath LLP is serving as legal counsel to PHPNI in this transaction.
Taft Stettinius & Hollister is serving as external legal
counsel to Priority Health.
About Priority Health:
With over 30 years in business in Michigan, Priority Health
offers an extensive portfolio of health benefits options for
employer groups and individuals, including Medicare and Medicaid
plans. Serving more than 1.3 million members each year and offering
a broad network of primary care physicians in Michigan, Priority
Health continues to be recognized as a leader for quality, customer
service, transparency and product innovation. Learn more about
affordable, quality health coverage options from Priority
Health.
About Physicians Health Plan of Northern Indiana:
Established in 1983, Physicians Health Plan of Northern Indiana,
Inc. is headquartered in Fort Wayne, Indiana, and is a leading
commercial health plan offering employer sponsored benefits and
third party administration to more than 52,000 members primarily
across Indiana and Ohio. PHPNI is a community-based leader in
providing cost-efficient and innovative health care solutions. Our
vision and values are carried out by acting with integrity and
providing exceptional customer service to all our customers.
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Dottie Barnes | (616) 446-3981 |
dottie.barnes@priorityhealth.com Michelle Kearns | (260) 421-4463 |
mkearns@phpni.com