San Francisco-based Blue Shield of California completed its acquisition of Care1st Health Plan for $1.2 billion. Blue Shield said the acquisition means that it will serve Medi-Cal and Medicaid beneficiaries for the fist time. Care1st primarily served patients in southern California and has a smaller presence in Arizona and Texas.
Blue Shield of California has 4 million members and in 2014 had more than $13 billion in annual revenue. Founded in 1994, Care1st health plan serves 500,000 Medicaid, Medicare Advantage and Dual-Eligible patients.