Point32Health acquires Health New England
Point32Health , the not-for-profit parent company of Harvard Pilgrim Health Care and Tufts Health Plan, has signed a definitive agreement with Baystate Health to acquire its subsidiary, Health New England .
Health New England, a not-for-profit health plan in Springfield, offers a range of plans in the commercial, Medicaid and Medicare markets and serves approximately 180,000 members concentrated in Western Massachusetts. Point32Health, a health and wellbeing organization based in Canton, offers employer-sponsored plans; Medicare and Medicaid plans; plans on the state exchange and plans for those who are dually eligible for Medicare and Medicaid. Point32Health serves 1.9 million members in Massachusetts, Maine, Connecticut, New Hampshire and Rhode Island.
According to the press release, the acquisition is expected to improve product offerings and expand access to a broader network with wider geographic reach. “Preserving and enhancing strong, high-quality, not-for-profit health plans is critical for Massachusetts health care. We are excited at the possibility of welcoming Health New England into the Point32Health family of companies. As two health plans that serve commercial, Medicaid and Medicare populations in Massachusetts, we have the shared commitment and expertise to serve people of all socioeconomic backgrounds, especially the underserved, and to improve members’ quality of life through programs and services that improve whole person health.” – Cain A. Hayes, president and CEO of Point32Health. “
“It is vitally important to the communities that we serve that Health New England and its programs continue to grow and evolve. Point32Health is a vibrant organization and is widely recognized for the quality of its products, strength of its network and commitment to underserved populations. Point32Health offers resources necessary to support Health New England members by advancing its efforts to support wellness, population health and disease management throughout the region.” – Mark Keroack, MD, CEO of Baystate Health.
The agreement, which was unanimously approved by the Board of Directors of Point32Health and the Board of Trustees of Baystate Health, is subject to regulatory approvals.
