Anthem, Inc. announced that the company has entered into an agreement with InnovaCare Health, L.P., to acquire its Puerto Rico-based subsidiaries, including MMM Holdings, LLC (“MMM”) and its Medicare Advantage (MA) plan MMM Healthcare, LLC as well as affiliated companies and Medicaid plan.
MMM is Puerto Rico’s largest MA plan and one of the fastest-growing vertically integrated healthcare organizations in the United States. With more than 267,000 MA members and over 305,000 Medicaid members, MMM represents the ninth-largest MA plan in the country and second-largest Medicaid plan on the island of Puerto Rico. MMM seeks to provide its members with a whole-health experience through its network of specialized clinics and wholly owned independent physician associations (IPAs) Castellana Physicians Services and PHM as well as independent IPAs; together the MMM network includes more than 10,000 healthcare providers and more than a dozen offices across Puerto Rico. MMM holds the only 4.5 Stars MA contract in Puerto Rico from the Centers for Medicare and Medicaid Services (CMS).