Neighborhood Health Plan is now part of the Partners HealthCare network. In its decision filed on the September 14, 2012, The Division of Insurance approved the proposed acquisition and control of the Neighborhood Health Plan Inc. citing the following findings:
- “Partners has shown that nothing about the proposed transaction will cause NHP not to continue to satisfy the requirements for approval as an HMO.”
- “We find that the effect of Partners’ acquisition of NHP will not be substantially to lessen competition in the health care insurance market in the Commonwealth or tend to create a monopoly in the Commonwealth.”
- “We find that the financial condition of Partners will not jeopardize the financial stability of NHP, or prejudice the interests of its subscribers, policyholders or enrolled members. We anticipate that NHP and its subscribers, policyholders, and members will benefit from the increased financial stability that NHP will enjoy as part of the large, financially strong Partners system, which, furthermore, has a shared charitable mission with NHP.”
- “We are persuaded that the terms of the proposed transaction were negotiated at arm’s length and are not unfair or unreasonable to NHP’s subscribers, policyholders, or members.”
- “We are persuaded that Partners does not have plans or proposals to liquidate NHP, sell its assets or any seat on its board of directors, or consolidate or merge it with any person, or to make any other material change in NHP’s business or corporate structure or management that are unfair and unreasonable to the subscribers, policyholders or enrolled members of NHP and that are not in the public interest.”
- “We find no reason to believe that the competence, experience and integrity of the persons who will control the operation of NHP, if the proposed transaction is approved, are such that it would not be in the interest of the subscribers, policyholders or enrolled members of NHP or of the public to permit the proposed transaction.”
- “We conclude, therefore, that the proposed transaction will not likely be hazardous or prejudicial to the health insurance buying public or to actual enrollees under health insurance plans.”
Read the official document In the Matter of the Proposed Acquisition of Control of Neighborhood Health Plan, Inc., by Partners HealthCare System, Inc. here.
