UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________

FORM 8-K
______________

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2018 (October 1, 2018)
______________

MOLINA HEALTHCARE, INC.
(Exact name of registrant as specified in its charter)

Delaware

1-31719

13-4204626

(State or other jurisdiction of
incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

______________

200 Oceangate, Suite 100, Long Beach, California 90802

(Address of principal executive offices)

Registrant’s telephone number, including area code: (562) 435-3666


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 7.01.  Regulation FD Disclosure.

On October 1, 2018, Molina Healthcare, Inc. (the “Company”) announced that it has completed the previously announced sale of its formerly wholly owned subsidiary, Molina Information Systems, LLC d/b/a Molina Medicaid Solutions, to DXC Technology Company. The full text of the press release is included as Exhibit 99.1 to this report.

Note: The information furnished herewith pursuant to Item 7.01 of this Current Report on Form 8-K shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.  Financial Statements and Exhibits.

(d)       Exhibits:

Exhibit
No.

  Description
 
99.1 Press release dated October 1, 2018.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 

MOLINA HEALTHCARE, INC.

 

 
Date: October 1, 2018 By:  

/s/ Jeff D. Barlow

 

Jeff D. Barlow

 

Chief Legal Officer and Secretary


EXHIBIT INDEX

Exhibit

No. Description
 

99.1

Press release dated October 1, 2018.

Exhibit 99.1

Molina Healthcare Completes Sale of Medicaid Management Information Systems Business to DXC Technology

LONG BEACH, Calif.--(BUSINESS WIRE)--October 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.

CONTACT:
Molina Healthcare, Inc.
Investor Relations:
Ryan Kubota, 562-435-3666
or
Public Relations:
Laura Murray, 562-506-9208