America's Benefit Specialist August/September 2023

MERGERS AND ACQUISITIONS

Stockton, Vice president. With more than four decades in the industry, Stockton Agency has exhibited steady growth as its agents help seniors get the most out of their Medicare cover age. The agency provides Medicare Advantage and Medicare supplement plans to seniors across Arkansas and Missouri. River City Senior Benefits, an IMO headquartered in Chat tanooga, Tennessee, and led by Philip Edwards, has joined Integrity. After years spent working as an agent and gaining insurance experience and expertise, Edwards launched River City Senior Benefits in 2000. The agency helps seniors across the Southeast navigate the complexities of Medicare to find the right Medicare Advantage and supplemental plans for their needs. The company also provides life insurance and annuity products to its network of agents. Integrity has partnered with Senior Health & Life Benefits, an IMO located in Savannah, Georgia, and led by Lawrence Bradley Sr., founder and CEO. Since its founding in 1993, the agency has focused on providing seniors with Medicare and final expense insurance products, as well as solutions tailored to fit their specific needs. Senior Health & Life Benefits serves thousands of Americans annually, with licensed agents working in Georgia, Alabama, North Carolina, South Carolina, Virginia, Florida and California. Allen and Associates, an IMO based in Memphis, Ten nessee, and led by founder and CEO Arric Allen, has joined Integrity. Founded in 2010, Allen and Associates is a Medi care-focused insurance agency. Allen and Associates is a top-performing agency in the Memphis Tri-State area, serv ing seniors in more than 15 states. Integrity has partnered with The Porter Group, led by Gene Porter, CEO, and Julia Porter, COO. The Porter Group is a life and health insurance agency based out of Morehead, Kentucky. Known for hosting extensive educational events and passionately serving multiple community organizations, The Porter Group established the Medicare Resource Center with a mission to serve as an advocate for seniors. By helping

BRIGHT HEALTH GROUP TO SELL CALIFORNIA MEDICARE ADVANTAGE BUSINESS TO MOLINA HEALTHCARE Bright Health Group Inc., a technology-enabled, value-driven healthcare company, has entered into a definitive agreement with Molina Healthcare Inc. to sell its California Medicare Ad vantage business, Brand New Day and Central Health Plan, for a total purchase consideration of $600 million. The com pany intends to use the proceeds to satisfy its obligations to its bank lenders with the remaining proceeds used toward liabilities in its discontinued ACA insurance business. “We are excited to enter into this agreement with Moli na as it will allow Brand New Day and Central Health Plan to continue delivering localized, personal care to California consumers and will position Bright Health’s Consumer Care Delivery business for long-term success,” said Mike Mikan, president and CEO of Bright Health. “The sale allows us to focus on driving differentiation and sustainable growth through our Consumer Care Delivery business.” As part of the agreement, Bright Health Group’s Consumer Care Delivery business will enter into a provider agreement with Molina to serve Medicaid and ACA Marketplace popula tions in Florida and Texas in 2024. The transaction is subject to regulatory approval and other closing conditions. The closing of the transaction is expected to occur by early 2024 and is not subject to a financing con dition. Moelis & Company LLC is serving as Bright Health’s fi nancial advisor and Simpson Thacher & Bartlett LLP is acting as Bright Health’s legal advisor. INTEGRITY WELCOMES NEW PARTNERS Integrity Marketing Group LLC has made several new acquisitions: Integrity has acquired the Stockton Agency, an inde pendent marketing organization based out of Bentonville, Arkansas, and led by Russ Stockton, president, and Rachel

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