December 3, 2024 Newswires

Priority Health and Physicians Health Plan of Northern Indiana Complete Acquisition to Foster Innovation and Improve Access to Care

Business Wire

GRAND RAPIDS, Mich.--(BUSINESS WIRE)--
Priority Health, a Michigan-based health plan serving more than 1.3 million members, is excited to announce the acquisition of control of Physicians Health Plan of Northern Indiana (PHPNI), a health plan based in Fort Wayne that serves more than 50,000 members in Indiana and Ohio.

Plans were officially announced in June 2024 and were completed on December 1, 2024.

“With approvals complete, we will now be working over the next several months to develop opportunities for both companies to continue to grow and leverage each other’s strengths as we plan for future growth,” said Praveen Thadani, president of Priority Health.

Gary Shearer, president and CEO of PHPNI, added, “We are excited to join the Priority Health team and for the opportunities and enhancements this will bring for our members and employer groups, our staff and the entire community that we serve.”

Financial proceeds of the transaction will advance the mission of the PHP Foundation, adding to its holdings and enhancing the ability to support the health and wellness of in-need populations in Northern Indiana communities.

Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor and Faegre Drinker Biddle & Reath LLP served as legal counsel to PHP in this transaction. Taft Stettinius & Hollister served as external legal counsel to Priority Health.

About Priority Health:

With over 30 years in business, Priority Health is the second largest health plan in Michigan, offering an extensive portfolio of health benefits options for employer groups and individuals, including Medicare and Medicaid plans. Serving more than 1.3 million members each year and offering a broad network of primary care physicians in Michigan, Priority Health continues to be recognized as a leader for quality, customer service, transparency and product innovation. Learn more about affordable, quality health coverage options from Priority Health.

About Physicians Health Plan of Northern Indiana:

Established in 1983, Physicians Health Plan of Northern Indiana, Inc. is headquartered in Fort Wayne, Indiana, and is a leading commercial health plan offering employer sponsored benefits and third party administration to more than 50,000 members primarily across Indiana and Ohio. PHPNI is a community-based leader in providing cost-efficient and innovative health care solutions. Our vision and values are carried out by acting with integrity and providing exceptional customer service to all our customers.