Molina Healthcare announced that the company amended its purchase agreement for the acquisition of Bright HealthCare’s California Medicare business. The purchase price for the transaction, net of certain tax benefits, is reduced from the previously announced $510M to approximately $425M, and now represents 23% of expected 2023 premium revenue of $1.8B. As previously stated by Molina, the acquisition adds $1.00 per share to new store embedded earnings and is expected to close on or about January 1, 2024.
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