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MOLINA HEALTHCARE, INC.

(MOH)
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Molina Healthcare : Announces “The MolinaCares Accord,” With a $150 Million Initial Funding Commitment

08/11/2020 | 04:17pm EST

Initiative Will be the Centerpiece of Molina’s Mission Statement and Environmental, Social, and Governance Programs

Molina Healthcare, Inc. (NYSE: MOH) (“Molina”) today announced the launch of The MolinaCares Accord (“The Accord”), representing a commitment to building stronger communities through improving people’s health and lives. Branded “MolinaCares, Building Stronger Communities…One Life at a Time,” The Accord will channel substantial investments into solving the many gaps that exist in the access to, and delivery of, health care today, particularly for the disadvantaged populations that the company serves.

The Accord will use Molina’s extensive clinical and community resources and an initial $150 million funding commitment to address the many social issues that afflict the delivery of health care today, including:

  • racial disparities in the access to, and delivery of, care;
  • social determinants of health;
  • opioid use disorder and substance abuse;
  • rural access to health care;
  • health care for the elderly, infirmed and frail; and
  • other health care issues impacted by socioeconomic disparities.

“While the COVID-19 pandemic did not create these issues, it certainly brought them to the fore,” said Joe Zubretsky, President and CEO of Molina Healthcare. Mr. Zubretsky continued, “Molina has always been a champion of community involvement and charitable giving, and it is the right time to renew this commitment, to increase the devotion of resources, and to make an even bolder statement. We are an organization that can really make a difference. And we will.”

The MolinaCares Accord and its by-line, “Building Stronger Communities…One Life at a Time,” will serve as the universal brand for this initiative. Under the brand, MolinaCares will oversee a 501(c)(3) charitable foundation for making charitable gifts consistent with its social charter, a Social Awareness Fund for education programs and enlightenment, and the launch of other charitable initiatives for Molina’s members and employees. While The Accord is a broad national initiative, Molina is organizing state-based local chapters to cater to the specific local needs of the states in which it does business, as well as in states where it plans to do business.

Mr. Zubretsky went on to say, “The words 'Molina Cares' capture the company’s sentiment perfectly, and the moniker 'Accord' was carefully chosen as it evokes the combination of a promise with a shared vision and values, and the righting of a wrong. That is exactly how we feel about the unfairness that for decades has built up inside the health care economy. It must change.”

Molina has invested heavily in its communities over the years and has already commenced charitable social programs in these complex areas. As examples, Molina launched its National Social Determinants of Health Innovation Center in Columbus, Ohio, committed $15 million to ensure access to care in the State of Washington during the COVID-19 pandemic, formed the Molina Community Innovation Fund, which immediately made investments totaling $2.5 million to support community partners in Ohio and Washington, and has made many monetary and PPE contributions to assist the Navajo Nation and other vulnerable communities in this time of need.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 3.6 million members as of June 30, 2020. For more information about Molina Healthcare, please visit molinahealthcare.com. For more information about The MolinaCares Accord, please visit molinacares.com.


ę Business Wire 2020
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Financials (USD)
Sales 2021 27 440 M - -
Net income 2021 714 M - -
Net cash 2021 2 974 M - -
P/E ratio 2021 23,3x
Yield 2021 -
Capitalization 16 650 M 16 650 M -
EV / Sales 2021 0,50x
EV / Sales 2022 0,40x
Nbr of Employees 10 500
Free-Float 99,1%
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Number of Analysts 15
Last Close Price 285,11 $
Average target price 336,71 $
Spread / Average Target 18,1%
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Managers and Directors
Joseph M. Zubretsky President, Chief Executive Officer & Director
Mark L. Keim Chief Financial Officer
Dale B. Wolf Chairman
Jason Dees Senior Vice President-Marketplace
Ronna E. Romney Vice Chairman
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