Highmark Health files to acquire remaining 50% stake in Gateway Health

PITTSBURGH — Highmark Health this week reached an agreement to acquire the half of Pittsburgh-based insurer Gateway Health that it doesn’t already own.

Financial terms of the deal between Highmark Health, a $20 billion health insurance and provider company, and Livonia, Michigan-based Trinity Health, weren’t disclosed. Gateway Health, a Medicaid and Medicare insurer, is owned 50% by Highmark Health and Mercy Health Plan, which is owned by Trinity Health.

Highmark Health filed an application to approve the acquisition with the Pennsylvania Department of Insurance, which has jurisdiction over the state’s insurance business. It would also have to go before the Pennsylvania Department of Human Services and the Pennsylvania Attorney General’s Office. Depending on how long the review process takes, Highmark Health could complete the acquisition within 90 days.

Read more from our news partners at the Pittsburgh Business Times.

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