Molina to use existing credit facility to help fund Mercy CarePlus purchase

By Sara Rosenberg

New York, Sept. 7 - Molina Healthcare, Inc. plans to use borrowings under its existing credit facility, along with cash on hand, to fund the acquisition of Mercy CarePlus for about $74 million, according to a news release.

The acquisition is expected to close in the fourth quarter, subject to regulatory approval and the satisfaction of other standard closing conditions.

Molina is a Long Beach, Calif.-based multi-state managed care organization. Mercy CarePlus is a St. Louis Medicaid managed care organization.

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