Faegre Drinker Represents Physicians Health Plan (PHP) in its Acquisition by Priority Health

A Faegre Drinker team led by corporate insurance partner Jason Kimpel and corporate partner Timothy Haffner provided legal counsel to health plan provider Physicians Health Plan of Northern Indiana (PHP) in PHP’s definitive agreement to become a controlled affiliate of Priority Health.

PHP is headquartered in Fort Wayne, Indiana, and is a leading commercial health plan offering employer sponsored benefits and third-party administration to more than 50,000 members primarily across Indiana and Ohio. Priority Health is the second largest health plan in Michigan, offering an extensive portfolio of health benefits options for employer groups and individuals, including Medicare and Medicaid plans. Priority Health is a controlled affiliate of Corewell Health, a nonprofit integrated healthcare system and the largest healthcare system in Michigan. The transaction unites their strengths to expand quality health care options across Michigan, Indiana, and Ohio.

Additionally, the financial consideration of the transaction will advance the mission of the PHP Foundation, a 501(c)(3) tax exempt nonprofit corporation engaged in supporting charitable endeavors, the development of young persons, promoting relief from poverty, and the promotion of health and health care. The Foundation plans to utilize the consideration from the transaction to enhance access to healthcare for the under-insured and uninsured residents of Northern Indiana.

The deal team was also supported by insurance associates Kelsey Himmeroeder and Matt Doyle.

The full press release detailing the acquisition can be viewed here.