Molina Healthcare Files for IPO
Molina Healthcare Inc., a Long Beach-based managed-care provider, filed with the Securities and Exchange Commission for a $115-million initial stock offering.
Molina Healthcare focuses on health-care services for Medicaid-eligible families and individuals, the company said in its SEC filing. The company was founded in 1980 and operates health plans mainly targeted to minority communities in California, Washington, Michigan and Utah. The company has about 478,000 members, according to the SEC filing.
Molina Healthcare didn’t say how many shares would be offered or their price.
The company has applied to list its shares on the NYSE under the ticker MOH.