Molina to buy Wisconsin insurer for $150M

Molina Healthcare plans to acquire a Medicaid managed care organization in Wisconsin for about $150 million, the insurer said Wednesday.

Under terms of the agreement, Long Beach, California-based Molina said it will purchase substantially all the assets of My Choice Wisconsin.

Molina plans to fund the transaction with cash on hand and expects it to close later this year. Molina said it will be immediately accretive to Molina’s adjusted…