Molina Healthcare, Inc. completed the acquisition of Texas Medicaid and Medicare-Medicaid Plan Contracts and Certain Operating Assets of Cigna Corporation (NYSE:CI).

Molina Healthcare, Inc. (NYSE:MOH) entered into a definitive agreement to acquire Texas Medicaid and Medicare-Medicaid Plan Contracts and Certain Operating Assets of Cigna Corporation (NYSE:CI) for $60 million on April 22, 2021. The purchase price for the transaction is approximately $60 million and Molina intends to fund the purchase with cash on hand. Cigna's Texas Medicaid and MMP business reported a full year 2020 premium revenue of approximately $1.0 billion. The transaction is subject to receipt of applicable federal and state regulatory approvals and the satisfaction of other customary closing conditions. It is expected to close in the second half of 2021. As of July 29, 2021, Molina Healthcare expect the transaction to close in January 2022. The transaction is expected to be immediately accretive to Molina's adjusted earnings per share.

Molina Healthcare, Inc. (NYSE:MOH) completed the acquisition of Texas Medicaid and Medicare-Medicaid Plan Contracts and Certain Operating Assets of Cigna Corporation (NYSE:CI) on January 1, 2022.