MHH Healthcare to Acquire MCS
MHH Healthcare, a company formed by Kinderhook Industries, announced today that one of its subsidiaries has entered into a definitive agreement to acquire Medical Card System, Inc. (MCS).
According to a press release released by MHH Healthcare, the acquisition is expected to close later this year, subject to customary conditions and regulatory approvals, and will mark the second significant acquisition by a subsidiary of MHH Healthcare following the prior acquisition of GlobalHealth (“Global”).
According to a Caribbean Business source, with knowledge of the transaction, the purchase of the assets has been worked on for nearly a year under the benefits offered by Act 20 for the exportation of services.
The company, the source noted, seeks to establish in Puerto Rico its business headquarters and export services for its operations in the mainland U.S.
The transaction would imply establishing in Puerto Rico call centers to support client services to the insurance company’s clients in the U.S.
The source further added that the process does not imply changes in the current operations nor with the company’s executives in Puerto Rico. In addition, MHH is planning on acquiring other health insurance plans in the mainland U.S.