PacificSource Acquires Clear One Health Plans
Thursday, December 31st, 2009PacificSource Health Plans has acquired Clear One Health Plans for $46 Million. Under the merger agreement, Clear One will become a wholly owned subsidiary of Eugene Oregon based PacificSource.
The merger will allow PacificSource to increase its presence in Central Oregon and expand into the Medicare and Medicaid markets through Clear One Health Plans operation while continuing to devote energy towards PacificSource’s commercial health insurance business.
The deal still requires approval by the Oregon Insurance Division, the Centers for Medicare & Medicaid Services and the Oregon Division of Medical Assistance Programs, as well as final shareholder approval.
Bend Oregon based Clear One provides health insurance, including Medicare Advantage plans, commercial plans, individual health insurance plans as well as administrative services to individuals and businesses throughout the West.
After the merger, PacificSource Health Plans is expected to cover about 228,000 members and PacificSource TPA about 80,000. Employer clients are expected to total 5,676 and 303 respectively.
More information about Oregon Health Insurance.
