Molina Healthcare, Inc. (NYSE:MOH) entered into an agreement to acquire Medicaid Managed Long Term Care business from AgeWell New York, LLC for approximately $110 million on October 7, 2021. The purchase price is net of certain tax benefits and Molinas target allocation of required regulatory capital. Molina intends to fund the purchase with cash on hand. For the year 2020, Managed Long term business reported a revenue of approximately $700 million. This transaction is subject to the receipt of applicable federal and state regulatory approvals and the satisfaction of other customary closing conditions, the closing of the transaction is expected to occur by the third quarter of 2022. The transaction is expected to be immediately accretive to Molinas adjusted earnings per share. Scott Golenbock, Max Goodman, Joel Krasnow, Fiona Schaeffer and Nathaniel Browand of Milbank LLP acted as legal advisor to Molina Healthcare.