Priority Health, a Michigan-based health plan, announced the acquisition of control of Physicians Health Plan of Northern Indiana.
“With approvals complete, we will now be working over the next several months to develop opportunities for both companies to continue to grow and leverage each other’s strengths as we plan for future growth,” said Praveen Thadani, Priority Health president, in a press release.
Plans were officially announced in June 2024 and were completed Dec. 1.
“We are excited to join the Priority Health team and for the opportunities and enhancements this will bring for our members and employer groups, our staff and the entire community that we serve,” Gary Shearer, PHPNI president and CEO, said.
Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor and Faegre Drinker Biddle & Reath LLP served as legal counsel to PHP in the transaction. Taft Stettinius & Hollister served as external legal counsel to Priority Health.
Priority Health has been in business over 30 years. It offers health benefits options for employer groups and individuals, including Medicare and Medicaid plans. It serves over 1.3 million members each year and has a network of primary care physicians in Michigan.
Fort Wayne-based Physicians Health Plan of Northern Indiana was established in 1983. It serves over 50,000 members primarily in Indiana and Ohio. Physicians Health Plan of Northern Indiana offers employer sponsored benefits and third-party administration.