Molina Healthcare, Inc. (NYSE: MOH) today announced that its wholly
owned subsidiary, Molina Healthcare of Florida, Inc., has been awarded a
Medicaid managed care contract by the Florida Agency for Health Care
Administration (AHCA). The term of the contract will commence on
December 1, 2008, at which time Molina Healthcare of Florida will begin
its initial enrollment of Florida NetPASS Medicaid members, with the
full transition of NetPASS members expected to be completed in the first
quarter of 2009. The contract award by AHCA follows its licensing of
Molina Healthcare of Florida to operate as a health maintenance
organization in Dade County.
“The Florida contract award represents a
significant opportunity in an important new state for Molina Healthcare.
We look forward to assisting our new members in Dade County in accessing
high quality health care benefits,” said J.
Mario Molina, M.D., president and chief executive officer of Molina
Healthcare, Inc.
About Molina Healthcare, Inc.
Molina Healthcare, Inc. is a multi-state managed care organization that
arranges for the delivery of health care services to persons eligible
for Medicaid, Medicare, and other government-sponsored programs for
low-income families and individuals. Molina Healthcare’s
ten licensed health plan subsidiaries in California, Florida, Michigan,
Missouri, Nevada, New Mexico, Ohio, Texas, Utah, and Washington
currently serve a total of approximately 1.2 million members. More
information about Molina Healthcare, Inc. can be obtained at www.molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: This press release contains “forward-looking
statements” identified by words such as “will”
and “expected” that
are subject to numerous risks and uncertainties that may cause actual
results to differ materially. Such factors include risks related to the
obtaining of final regulatory approvals from AHCA and the satisfaction
of other conditions to closing the Florida NetPASS acquisition; the
successful transition and integration of the members, operations, and
provider networks of Florida NetPASS; attrition in membership pending
the completion of and following the acquisition; the accurate estimation
of incurred but not reported medical costs with respect to this new
population; and numerous other risk factors as described in the periodic
reports and filings of Molina Healthcare, Inc. with the Securities and
Exchange Commission and available for viewing on its website at www.sec.gov.
Molina Healthcare, Inc.
Investor Relations:
Juan Jose
Orellana, 562-435-3666, ext. 111143
or
Public Relations:
Kathleen
O’Guin, 562-435-3666, ext. 118305
