Blue Care Network halts plan to buy HMO
Blue Care Network halts plan to buy HMO
Blue Care Network halts plan to buy HMO
Blue Care Network, a Detroit HMO and subsidiary of the state's largest insurer,#x Softgelshas ended plans to buy a large Lansing-area HMO network from Sparrow Health System, the companies announced today.
Efforts to complete the acquisition of Physicians Health Plan of Mid-Michigan,katana, an 80,000 member HMO, were dropped, the companies said, because the transaction "would not get clearance without litigation."
The move was opposed by Michigan's attorney general and the state's largest HMO association over concerns that it would give Blue Cross Blue Shield of Michigan a monopoly in the mid-Michigan market. SoftgelsBlue Cross covers 7 of every 10 insured people in the state. #xBlue Cross and Sparrow argued to state and federal regulators that the acquisition would benefit the region and help cost-sharing at the two companies.
"In light of the current regulatory climate,#x it has become obvious that we should move on and continue focusing on the best ways to serve PHP's members and our region,"Softgels the statement said.
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