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Humana To Acquire Peoria Plan

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A large managed care company is acquiring a smaller carrier in the Midwest.

Humana Inc., Louisville, Ky., has agreed to pay about $90 million to acquire OSF HealthPlans Inc., an affiliate of the Sisters of the Third Order of St. Francis, Peoria, Ill.

The deal is subject to approval by Illinois insurance regulators and the Centers for Medicare and Medicaid Services.

Humana would get 78,000 members, including 34,000 fully insured commercial members, along with access to a larger provider network in central and northern Illinois, the company says.

Humana provides or administers health coverage for 11 million U.S. residents.