- On January 29, 2024
Topic: News | Applies to: All
On January 29, Medical Mutual announced its intent to purchase Paramount Health, a Northwest Ohio-based health insurance company. Paramount, which offers Medicare Advantage, Individual ACA, commercial group and shortterm insurance plans, is headquartered in Toledo and does business primarily in Ohio and Michigan.
As a wholly owned subsidiary of Medical Mutual, Paramount will continue offering its high-quality health plans.
There will be no immediate change to how current members do business with either company.
Medical Mutual will continue delivering its branded products and services in Northwest Ohio that have access to its robust provider networks, which include the ProMedica health system. All ProMedica primary care providers, specialists, hospitals and outpatient care clinics, already part of many Medical Mutual commercial group networks, are now part of Medical Mutual’s Medicare Advantage and Individual ACA provider networks.
“This acquisition aligns two companies that share a lot more than just being headquartered in Ohio. We share a common vision – to help people live healthier. Paramount, like Medical Mutual, is renowned for its outstanding local care and excellent service. Having this quality organization join the Medical Mutual family of companies presents a unique opportunity to strengthen our position as a trusted healthcare navigator in Ohio.”
Steve Glass, Medical Mutual’s President and CEO.
The acquisition is pending regulatory approval. Once that is received, the transaction is set to close by May 1, 2024. A broker call is planned for Tuesday, February 13, 2024, from noon to 1 p.m. to provide additional information. Details on the call-in information will be provided soon.
Please contact your ExpressLink representative if you have any questions.