Anthem, Inc. Completes Acquisition of MMM Holdings, LLC and Affiliates From InnovaCare Health, L.P.
June 30, 2021 at 08:00 AM EDT
Anthem, Inc. (NYSE: ANTM) today announced the completion of the acquisition of Puerto Rico-based MMM Holdings, LLC and its Medicare Advantage (MA) plan MMM Healthcare, LLC. as well as affiliated companies and Medicaid plan. Anthem acquired MMM from InnovaCare Health, L.P., a leading integrated, value-based payor and provider service organization.
“We’re pleased to complete the acquisition of MMM and work with our new colleagues to serve Medicare and Medicaid-eligible individuals and consumers in Puerto Rico. With our vision to be an innovative, valuable and inclusive healthcare partner we remain committed to enhancing their healthcare experience by providing services that drive greater value and meet their diverse needs,” said Gail K. Boudreaux, President and CEO, Anthem, Inc.
With more than 275,000 MA members and over 314,000 Medicaid members, MMM is the ninth-largest MA plan in the country and Puerto Rico’s second-largest Medicaid plan. MMM is the island’s largest MA plan and one of the fastest-growing vertically integrated healthcare organizations in the United States.
“We are pleased to officially bring MMM into the Anthem family because we share a commitment to being a lifetime partner in health to the people we serve,” said Felicia Norwood, EVP and President, Government Business Division for Anthem, Inc. “Our whole-person approach to health, which includes addressing the social drivers of health, gives Medicare and Medicaid-eligible individuals access to the services and care they need to improve their health and wellbeing.”
MMM’s approach to serving its members aligns with Anthem’s commitment to whole-person health, with MMM’s provider network and wholly owned independent physician associations (IPAs) Castellana Physicians Services and PHM as well as independent IPAs. Together, MMM’s network includes more than a dozen offices and more than 10,000 healthcare providers across the island.
MMM holds the only 4.5 Stars MA contract in Puerto Rico from the Centers for Medicare and Medicaid Services (CMS).
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