Trinity Health has sold its Membership Interest in Gateway Health to Highmark Health
Overview
| Deal Type |
Mergers & Acquisitions |
|---|---|
| Client & Transactional Partners |
Trinity Health HighMark Health |
| Our Role |
Sell-Side Advisor |
Summary
Cain Brothers advised Trinity Health on the sale of membership interest that its wholly owned subsidiary, Mercy Health Plan, holds in Gateway Health, a leading provider of Medicaid and Medicare managed care in Pennsylvania, to its joint venture partner, Highmark Health.
Gateway Health began in 1992 as an alternative option to the Pennsylvania Department of Human Services. Gateway currently delivers care to approximately 300,000 Medicaid and 40,000 Medicare members through its 1,000+ associates and a network of 30,000+ providers across Pennsylvania.
Trinity Health is one of the largest multi-institutional Catholic health care delivery systems in the nation, serving diverse communities across 22 states. Trinity Health includes 92 hospitals, as well as 100 continuing care locations that provide nearly 2 million visits annually. Based in Livonia, Michigan, and with annual operating revenues of $18.8 billion, the organization returns $1.3 billion to its communities annually in the form of charity care and other community benefit programs. Trinity Health employs 123,000 colleagues, including 6,800 employed physicians and clinicians.
Highmark Health is a Pittsburgh, PA-based enterprise that employs more than 35,000 people who serve millions of Americans across the country through its subsidiaries Highmark Inc., Allegheny Health Network, and HM Health Solutions. Highmark provides health insurance to more than 6 million members in PA, WV, DE and NY as well as dental insurance, and related health products, operates an integrated delivery network comprised of 13 hospitals, 2,500+ affiliated physicians, ambulatory surgery centers, an employed physician organization, home and community-based health services, a research institute, a group purchasing organization, and health and wellness pavilions in western PA, and operates an IT platform for the Highmark Health enterprise as well as unaffiliated health insurance plans.
