Trusted Health Plan Inc, which is backed by Juggernaut Capital, has closed its buy of Harbor Health Plan Inc. Tenet Healthcare was the seller. The deal was valued at $16 million, according to press reports.
WASHINGTON, March 27, 2017 /PRNewswire/ — Trusted Health Plan Inc. (“Trusted”), a Washington D.C. headquartered Managed Care Organization announces the acquisition of Harbor Health Plan, Inc (“Harbor”). Trusted acquired Harbor from Tenet Healthcare on February 28th 2017. Harbor has been operating as a licensed HMO in Michigan since 2000 having developed industry leading innovations to drive HEDIS performance improvements.
Trusted, a growing Medicaid MCO, distinguishes itself as a targeted high-touch health plan and has plans for expansion of Harbor in 2017. Harbor has deep roots in caring for citizens of Southeastern Michigan. Harbor’s mission of providing quality healthcare will be emphasized through community involvement with personal and member-focused care. Through a concentration on wellness and a robust network of providers, Harbor will take on an innovative approach. Plans include building brick and mortar Wellness Centers in Wayne, Oakland, and Macomb counties to improve member health outcomes, and establishing value-based contracts with providers. The Wellness Centers will focus on enhancing its members’ health status through on-site nurse case management and care coordination, physical fitness activities, and health education.
Harbor’s Board of Directors appointed Jesse Thomas as Chief Executive Officer (CEO). Prior to joining Harbor, Mr. Thomas served as CEO of Molina Michigan, Molina Ohio, and as President of WellCare Health Plans’ South Division. With over 30 years of extensive Medicaid MCO experience, Thomas’ appointment signals business continuity, expansion, and service excellence for Harbor’s future.
Trusted’s Chairman, Tom Scully brings a wealth of experience, valuable insight, and leadership. Scully is the former Administrator of the Centers for Medicare & Medicaid Services (“CMS”) and is currently serving as General Partner with Welsh, Carson, Anderson & Stowe, which is one of the nation’s largest private equity investors in healthcare.
About Trusted Health Plan, Inc.
Trusted is a Managed Care Organization (MCO) that provides quality healthcare to over 35,000 residents in the District of Columbia. Trusted makes unique investments in Wellness Centers and community based nurse case management that has resulted in demonstrable reductions in wasteful healthcare utilization. Trusted’s priority for Harbor is to improve the health outcomes of Harbor’s Medicaid and Medicare Advantage members in Southeastern Michigan.