News Headlines Article

Blue Shield of California to enter Medi-Cal/Medicaid services market by acquiring Care1st Health Plan
Pasadena Star

Blue Shield of California on Monday announced it will enter the Medi-Cal/Medicaid market by acquiring Care1st Health Plan.

The all-cash transaction is expected to close in the second half of 2015. Financial terms were not disclosed.

Paul Markovich, president and CEO of Blue Shield of California, said the move will fulfill his company’s not-for-profit access and mission to stay affordable.

“Acquiring Care1st — a growing, values-based company with deep Medicaid experience — is the ideal way for us to not only enter a new market but also to help transform it together,” Markovich said in a statement.