Medica Acquires Mayo Clinic Division
Rochester, MN (KROC-AM News) - It’s being reported that about 200 employees of a Mayo Clinic division will be affected by a deal announced Thursday.
A news release says Minnetonka-based Medica has worked out a deal to acquire Mayo Clinic Health Solutions. The main business of the division is managing health benefits for about 260,000 members employed by 28 customers, including Mayo Clinic employees. The Mayo Clinic is self insured and the change will not impact the benefits offered through its health plans.
“Complementing each organization’s strengths is important in this decision,” said Kedrick Adkins, chief financial officer, Mayo Clinic. “This new arrangement offers technologies and opportunities to explore that can benefit patients and clients.”
The acquisition by Medica will be effective by the end of this year. The terms of the deal were not disclosed.