AvMed, a nonprofit health plan with more than 200,000 customers in Florida, has been acquired by Virginia-based Sentara Healthcare, the companies announced.
The deal closed Dec. 31. No terms were announced.
Miami-based AvMed, which provides commercial group, individual and Medicare Advantage coverage, will continue operations as usual “with minimal impact to health plan members, providers, and employees,” according to a news release.
Sentara, a nonprofit, has offered plans in Virginia and North Carolina. The purchase expands its coverage to nearly 1.2 million members, the company said.
“Our partnership with Sentara best positions AvMed to continue helping Floridians live healthier, the basis of our mission for the past 50 years,” Jim Repp, president and chief operating officer of AvMed, said in a prepared statement. “To create thriving communities, address health disparities, and improve wellness, offering accessible, quality care is vital, and this new affiliation will deliver that for our members and local communities.”
AvMed says it employs nearly 500 people with a network of more than 35,000 providers.