Medical Mutual Agrees To Acquire Carolina Care 

A Midwestern health insurer may scoop up a Southeastern health insurer.

Medical Mutual of Ohio, Cleveland, says it has agreed to acquire Carolina Care Plan Inc., Columbia, S.C.

The price of the deal was not disclosed, but Medical Mutual says Carolina Care, a health maintenance organization plan that covers about 70,000 people, would continue to be based in Columbia and operate under the same name.

The deal is subject to regulatory approval and a vote by Carolina Care shareholders.

Carolina Care is selling because it needs capital to overcome the effects of a cut in its financial rating, Medical Mutual says.

Archived Issues

• Panel Advances Reconciliation Bill
• AHIP President Hopes That’s Light In The Tunnel
• Mintel: Social Media Still Niche Tools
• Moody's: Life Insurers Are Prepared For Hard Times
• Lawmakers Debate What Parliamentarian Said
• Proposed Dodd Bill Would Hike Federal Regulation of Insurers
• Senate Bill Extends COBRA Benefits, Pension Funding Relief