The agreement provides continuity of care and coverage for Passport members amidst the pandemic and secures hundreds of Kentucky-based job.
LOUISVILLE, Ky. — Passport Health Plan and Molina Healthcare have entered into a definitive agreement for Molina to acquire certain assets of Passport Health Plan.
According to a news release, the agreement helps to provide continuity of care and coverage for Passport members while also preserving hundreds of Kentucky jobs. Under the terms of the agreement, which is subject to regulatory approval, Molina intends to acquire the Passport brand, operational and clinical infrastructure, and certain provider and vendor agreements.
Molina will also offer Passport employees the opportunity to continue employment with Molina. Under a separate agreement, Molina has also agreed to purchase Passport’s real estate in west Louisville.
“While we are disappointed that Passport was not awarded a new MCO contract, we firmly believe that this agreement provides the best path forward for Passport members, providers, employees, and our community,” said Passport Health Plan Chief Executive Officer Scott Bowers. “The trusted Passport name and brand will live on and, more importantly, this agreement provides continuity of care and coverage for our members during these challenging times for our community.”
Mayor Greg Fischer released the following statement:
“I am excited to see this smooth transition for the Passport Health Plan members and employees, many of whom are our fellow Louisvillians. And I’m thrilled at the prospect of seeing the project at 18th and Broadway proceed. My team and I look forward to working with Molina on their plans and supporting even more opportunities for west Louisville and its residents.”
– Mayor Greg Fischer