McLaren Health Care Completes Acquisition Of MDwise

GRAND BLANC, Mich. and INDIANAPOLIS, Jan. 3, 2018 /PRNewswire/ -- McLaren Health Care has completed its previously announced acquisition of MDwise. The acquisition establishes McLaren's first operations outside the state of Michigan, and grows the system's health plan assets to jointly serve more than 620,000 individuals, making it one of the region's largest provider-sponsored plans. MDwise will continue to operate under its current brand.

With completion of the transaction, total revenues for McLaren are expected to approach $6 billion annually. The organization anticipates achieving economies of scale and increased opportunities to share data and best practices to support not only financial operations, but population health efforts and risk-based contracting as well. Terms of the transaction were not disclosed.

"Today's consolidating healthcare marketplace can be challenging, so we were thrilled to identify this opportunity with MDwise," said Philip Incarnati, President and CEO of McLaren Health Care. "Strategic acquisitions like this allow McLaren to deliver on our promise to provide the best value in health care as defined by quality outcomes and cost."

Following approvals by the Indiana Department of Insurance and other regulators, the acquisition was finalized on December 29, 2017, with an effective date of January 1, 2018.

About McLaren:

McLaren Health Care, headquartered in Grand Blanc, Michigan, is a fully integrated health network committed to quality, evidence-based patient care and cost efficiency. The McLaren system includes 13 hospitals, ambulatory surgery centers, imaging centers, a 490-member employed primary and specialty care physician network, commercial and Medicaid HMOs covering more than 620,000 lives in Michigan and Indiana, home health and hospice providers, retail medical equipment showrooms, pharmacy services, and a wholly owned medical malpractice insurance company. McLaren operates Michigan's largest network of cancer centers and providers, anchored by the Barbara Ann Karmanos Cancer Institute, one of only 49 NCI-designated comprehensive centers in the U.S. McLaren has 26,000 employees and more than 52,500 network providers. Its operations are housed in more than 350 facilities serving the entire Lower Peninsula along with a portion of the Upper Peninsula. Learn more at www.mclaren.org.

Media Contact: Rosemary Plorin, Lovell Communications, [email protected], 615.750.9025

SOURCE McLaren Health Care