Priority Health completes acquisition of Fort Wayne insurance provider
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Michigan-based Priority Health said Tuesday it has completed its acquisition of Physicians Health Plan of Northern Indiana in Fort Wayne.
Financial terms of the deal, which closed on Dec. 1, are not being disclosed.
Plans for the acquisition were first announced in June. Priority Health serves more than 1.3 million members across its footprint, and the sale brings an additional 50,000 members in Indiana and Ohio into the fold.
“We are excited to join the Priority Health team and for the opportunities and enhancements this will bring for our members and employer groups, our staff and the entire community that we serve,” Physicians Health Plan of Northern Indiana CEO Gary Shearer said in a news release.
A spokesperson for Physicians Health Plan previously told Inside INdiana Business that 100% of the net proceeds from the sale will go entirely to the PHP Foundation in Fort Wayne. Priority Health said the proceeds will enhance the ability “to support the health and wellness of in-need populations in Northern Indiana communities.”
Priority Health previously said that products and coverage offered by the companies are not expected to see any significant changes.
“With approvals complete, we will now be working over the next several months to develop opportunities for both companies to continue to grow and leverage each other’s strengths as we plan for future growth,” said Priority Health President Praveen Thadani.
It was not immediately clear if any jobs would be affected by the acquisition.
