June 21, 2017 Newswires

Molina Healthcare To Enter Mississippi Medicaid Managed Care Market

Business Wire

LONG BEACH, Calif.--(BUSINESS WIRE)-- Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly owned subsidiary, Molina Healthcare of Mississippi, Inc., has been notified by the Mississippi Division of Medicaid (the Division) of its intent to award a Medicaid Coordinated Care Contract for the statewide administration of the Mississippi Coordinated Access Network (MississippiCAN).

“We are pleased to have been selected to participate in the MississippiCAN program,” said Joseph White, interim President & CEO and CFO of Molina Healthcare, Inc. “This award adds to our existing Medicaid footprint of 12 states and the Commonwealth of Puerto Rico. Over the next several months, we will work closely with the Division, local providers and community leaders to provide quality, cost effective health care to Mississippi’s Medicaid members.”

The objectives of the MississippiCAN program are to improve access to needed medical services, improve quality of care and population health, and improve the efficiency and cost effectiveness of the Medicaid program.

Molina Healthcare of Mississippi was selected by the Division pursuant to its request for proposals issued in February 2017. The contract begins July 1, 2017, for three years with options to renew annually for up to two additional years. The operational start date for the program is currently scheduled for July 1, 2018, pending the completion of a readiness review with the Division.

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 our locally operated health plans in 12 states across the nation and in the Commonwealth of Puerto Rico, Molina serves approximately 4.8 million members. Dr. C. David Molina founded our company in 1980 as a provider organization serving low-income families in Southern California. Today, we continue his mission of providing high quality and cost-effective health care to those who need it most. For more information about Molina Healthcare, please visit our website at molinahealthcare.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains “forward-looking statements” regarding the selection of Molina Healthcare of Mississippi to enter into a managed care contract for the MississippiCAN program. All forward-looking statements are based on current expectations that are subject to numerous risk factors that could cause actual results to differ materially. Such risk factors include, without limitation, a failure of the parties to finalize and execute the new contract, a delay in the start date for the new contract, a failure to satisfy readiness review requirements, and a reversal of the contract award in connection with a successful protest by another bidder. Additional information regarding the risk factors to which Molina Healthcare is subject is provided in greater detail in its periodic reports and filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. These reports can be accessed under the investor relations tab of Molina Healthcare’s website or on the SEC’s website at sec.gov. Given these risks and uncertainties, Molina Healthcare can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by its forward-looking statements will in fact occur, and Molina Healthcare cautions investors not to place undue reliance on these statements. All forward-looking statements in this release represent Molina Healthcare’s judgment as of the date hereof, and Molina Healthcare disclaims any obligation to update any forward-looking statements to conform the statement to actual results or changes in its expectations that occur after the date of this release.