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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MOH:
- Molina Healthcare price target raised by $55 at BofA, here’s why
- Molina Healthcare price target raised to $392 from $367 at JPMorgan
- Cigna price target raised to $351 from $345 at Deutsche Bank
- Molina Healthcare price target raised to $382 from $349 at TD Cowen
- Molina Healthcare price target raised to $374 from $359 at Cantor Fitzgerald