What is Molina Healthcare?
Molina Healthcare (MOH) is an American Fortune 500 health care company that serves nearly 5 million people across the United States.The company contracts with U.S. state governments and serves as a health plan, offering a range of health care services to people who qualify for government-funded medical programmes such as Medicaid and the State Children's Health Insurance Program (SCHIP).
Molina Healthcare also owns and operates a number of medical clinics, providing a variety of primary care services such as prenatal care, immunizations and flu shots to those who qualify for government-sponsored programmes. In addition, the company has a wholly-owned subsidiary called Molina Medicaid Solutions which provides health information management solutions.
Who are the key people at Molina Healthcare?
Joseph Zubretsky has been President and Chief Executive Officer of Molina Healthcare since the October 2017 management change. He previously served in senior roles at Aetna, one of the USA’s biggest health care benefits and insurance providers, most recently as CEO of its Healthagen Holdings subsidiary. Other leading figures at Molina Healthcare include Joseph W. White (Chief Financial Officer); Pamela Sedmak (Executive Vice President, Health Plan Operations); and Mark Keim (Executive Vice President of Strategic Planning, Corporate Development and Transformation).
What is the modern history of Molina Healthcare?
Molina Healthcare was named after its founder, Dr David Molina, an emergency room physician who established the company in 1980. When he set up his first primary care clinic, the aim was to treat patients regardless of their financial circumstances. After his death in 1996, the company was run by his two sons Mario and John, who expanded its operations. In 2003 Molina Healthcare went public, raising $124 million in its IPO. It entered the Medicare market in 2006. In 2017 the Molina brothers were removed from their leadership positions by the Board of Directors amid concerns over weak performance.
What are the latest developments at Molina Healthcare?
Molina Healthcare’s 2017 financial results saw the company reporting a $512 million loss for the year. The company blamed factors such as the costs of its restructuring and the U.S. federal government’s termination of subsidy payments. In its preliminary guidance for 2018, Molina forecast a profit of between $202 million and $236 million, with $17.5 billion in premium revenue.
In March 2018, healthcare IT company Connecture entered into a multi-year contract with Molina Healthcare to launch digital quoting, shopping and enrolment tools for Molina’s Medicare business. Connecture’s portal technology will support Molina’s primary sales channels, including brokers, call centre agents and its website.
The Molina Healthcare share price started 2017 at around $57 and ended the year at $76. In April 2018 the shares were trading at just over $80, giving the company a market capitalisation of $4.88 billion. To find out how the shares are doing right now, follow Capital.com. Our MOH chart puts all the information at your fingertips.
Where does Molina Healthcare operate?
Headquartered in Long Beach, California, USA, Molina Healthcare offers Medicaid plans in California, Florida, Illinois, Michigan, Ohio, Puerto Rico, New Mexico, New York, South Carolina, Texas, Utah, Washington and Wisconsin. The company has medical clinics in California, Florida, Michigan, New Mexico, Utah and Washington states.
Where is Molina Healthcare traded?
Molina Healthcare shares are listed on the New York Stock Exchange (NYSE). The stock is a constituent of the S&P 400 index. Check out Capital.com for the latest MOH chart. We’ll keep you up to date and in the picture.