Molina Healthcare has canceled its planned acquisition of NextLevel Health Partners that was announced in January for approximately $50M due to a disagreement on terms.
“Molina Healthcare, Inc. has terminated its agreement to acquire all of the capital stock of NextLevel Health Partners, Inc. due to the seller’s stated unwillingness to close pursuant to the terms of the acquisition agreement.”
Molina Healthcare SEC filing
The original intent of the deal was to expand Molina’s footprint to Illinois through the 50,000 customers and $270M in annual premiums that NextLevel brought to the table and to take advantage of cost synergies the combination would offer.