May improve access for patients with complex conditions
Medica announced, on Thursday, plans to acquire Mayo Clinic Health Solutions (MMSI) by the end of this year.
"Complementing each organization's strengths is important in this decision," Kedrick Adkins, chief financial officer at Mayo Clinic, said in a statement. "This new arrangement offers technologies and opportunities to explore that can benefit patients and clients."
MMSI, which is a division of Mayo Clinic, is a physician-lead health benefits management company. It's also a licensed third-party administrator that offers plan administration services and health care products to 260,000 members through its 28 customers.
Some of the services it offers are provider network management, customer service support, claim processing and other administrative functions.
Medica is a health service company that provides health care coverage for the employer, individual, Medicaid and Medicare markets in Minnesota, Iowa, Kansas, Nebraska, North Dakota and Wisconsin.
Both companies have worked to advance health care, improve patient experience and drive innovation in health care delivery, technology and tools. This transaction may offer opportunities to help improve access to care for patients with serious and complex medical conditions.
The financial details of the deal have not been disclosed at this time.
