PHILADELPHIA, Aug. 1 /PRNewswire-FirstCall/ — Bravo Health Inc. announced today that it has completed the acquisition of Senior Partners, a Medicare health plan product serving approximately 22,800 Medicare-eligible individuals in Philadelphia and surrounding counties. Bravo Health is now the second largest Medicare Advantage Plan in one of the largest Medicare markets in the country.
The acquisition increases Bravo Health’s total Medicare Advantage membership to more than 48,000 in four states, including 35,000 in the greater Philadelphia market. The company also serves more than 45,000 individuals through its prescription drug plans in 12 states.
“One of our key growth strategies has been to strengthen our presence in the Philadelphia marketplace,” said Jeff Folick, chief executive officer of Bravo Health. “The acquisition of Senior Partners increases our ability to provide Medicare beneficiaries in this area with access to quality, affordable and dependable healthcare coverage.”
Senior Partners was the Medicare line of business of Health Partners of Philadelphia. Health Partners will continue to operate its Medicaid line of business, which serves over 135,000 Medical Assistance members.
As part of Bravo Health, there will be no change in services or providers for the Senior Partners members. “We are working to make this transition as seamless as possible for Senior Partners members,” said Folick. To help assure that, Folick said that his company has entered into multi-year hospital and physician contracts with Tenet Health System, Temple University Health System, University of Pennsylvania Health System, and Jefferson Health System’s Albert Einstein Medical Center and Frankford Health System.
Bravo Health is a senior-focused health plan offering Medicare Advantage and prescription drug plans in Pennsylvania, Delaware, Maryland, Texas and the District of Columbia. As of January 1, 2007, Bravo prescription drug plans became available in California, Florida, Illinois, Michigan, Ohio, New York, New Jersey and West Virginia. More information may be obtained at http://www.bravohealth.com/.
Bravo Health Inc.
CONTACT: Michelle Hokr, +1-818-597-8453, x-5, [email protected],for Bravo Health Inc.
Web site: http://www.bravohealth.com/
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