LANSING, MI – Physicians Health Plan---a Lansing-based health maintenance organization---has been sold to a unit of Blue Cross Blue Shield of Michigan. Terms of the deal were not revealed.
Blue Care Network announced the purchase of the Sparrow-owned HMO on Tuesday. Scott Wilkerson is President and CEO of Physician's Health Plan.
"As we looked at it from a Sparrow Health System standpoint....the ability to the meet the growing demands of people, employers and the organizations we serve....we really thought this made the most sense for the region," he said.
PHP has about 80,000 members. Southfield-based Blue Care Network has about 680,000 members. The deal requires approval from Michigan insurance and public health regulators. Blue Care Network says it expects to close the deal in 2009.