Mayo Clinic to Sell its Health Benefits Division to Medica
The Mayo Clinic is selling its health benefits management company, known as Mayo Clinic Health Solutions, to Medica for an undisclosed amount.
The division, which is operated out of Mayo’s headquarters in Rochester, provides plan administration services and health care products to 260,000 members through 28 customers.
“For many years, Mayo Clinic and Medica have each worked to advance health care, improve the consumer experience and drive innovation in health care delivery, technologies and tools,” said Medica chief executive John Naylor in a statement. “Today, with Medica’s acquisition of [Mayo Clinic Health Solutions], we can bring greater capabilities and flexibility through new technologies for customers.”
The arrangement, which was announced Thursday in a joint release, will take effect by the end of the year.