Washington state Insurance Commissioner Mike Kreidler announced today that he has approved Kaiser Foundation Health Plan’s $1.8 billion acquisition of Group Health Cooperative.
Kaiser had filed its application to buy Group Health last March after the Seattle-based health insurer’s voting members approved the proposed acquisition.
Kreidler said in a press release that Oakland, Calif.-based Kaiser met all of the legal requirements necessary for approval, adding, “I’m satisfied that Washington state will retain a competitive health insurance market.”
As of Oct. 1, Group Health had about 116,200 enrollees in Eastern Washington and just over 80 physicians working in Spokane County, according to information the organization provided to the Journal of Business for its Health Care Plans list. Kaiser Foundation Health Plan didn’t have a presence in the Spokane market prior to the acquisition