Trusted Health Plans, Inc. has Sold its Washington D.C. MCO to CareFirst BlueCross BlueShield and Trusted Health Plan, Michigan to Henry Ford Health System
January 31, 2020
Cain Brothers, a division of KeyBanc Capital Markets (“Cain Brothers”), served as financial advisor to Trusted Health Plans, Inc. (“Trusted”) in the sale of Trusted and its Washington D.C. MCO, Trusted Health Plan, D.C. (“THP D.C.”), to CareFirst BlueCross BlueShield (“CareFirst”), and the sale of Trusted Health Plan, Michigan (“THP MI”) to Health Alliance Plan (“HAP”), a subsidiary of Henry Ford Health System.
Founded by Tommy Duncan in 2011, THP D.C. is a leading managed care organization serving D.C. Healthy Families Medicaid Program and D.C. Healthcare Alliance Program members. THP D.C. manages over 35,000 members and operates Wellness Centers providing members with access to face-to-face health education, case management and nutritional counseling.
THP MI, formerly Harbor Health Plan was acquired by Trusted in 2017 and serves 9,000 Medicaid members in the Detroit area. The plan has operated as a licensed HMO in Michigan since 2000.
CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company offering a comprehensive portfolio of health insurance products to 3.2 million individuals and groups in Maryland, Washington, D.C., and Northern Virginia.
HAP serves 570,000 total members across Michigan. HAP’s subsidiary, HAP Midwest Health Plan, offers Medicaid products under the HAP Empowered name. Henry Ford Health System, a six-hospital system headquartered in Detroit, is one of the nation’s leading integrated health systems.