LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 1, 2018--
Molina Healthcare, Inc. (NYSE: MOH) today announced that it has
completed the previously announced sale of its formerly wholly owned
subsidiary, Molina Medicaid Solutions (MMS), to DXC Technology Company
(NYSE: DXC).
The net purchase price received for the equity interests of MMS was
approximately $231 million in cash, which amount is subject to customary
post-closing cash, debt, and working capital adjustments. The Company
will recognize the transaction in the third quarter. The proceeds will
provide additional resources and flexibility to invest in and focus on
the Company’s core health plan business and to continue executing on its
margin recovery and sustainability plan.
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 4.1 million members as of June
30, 2018. For more information about Molina Healthcare, please visit our
website at molinahealthcare.com.
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Source: Molina Healthcare, Inc.
Molina Healthcare, Inc.
Investor Relations:
Ryan Kubota,
562-435-3666
or
Public Relations:
Laura Murray,
562-506-9208
